We have to pick a copay, either $20 or $40. I'll be going with the $20. I had $40 last year, and it makes it seem silly to go to the Dr, when the visit is only $68. We then pick a deductible, $250, $500, $1000. This comes into play when we need unexpected care (surgery, etc). From there we pick co-insurance coverage, of either 100% ($0 max), 90% ($1,500 max), 80% ($3,000 max) or 70% ($4,500 max). So the way this works is this. If something bad happens, we pay the deductible up front, then insurance pays xx percent up to the max, after which they pay everything. Complicated enough? Let me explain.
If I get a $250 deductible, and 100% coinsurance, and need to use it, I pay $250, and the insurance company covers everything else. Sounds good, right?
Now lets say I get the $500 deductible and the 90% coinsurance. I would pay $500 of the cost up front, then 10% of the costs up to $1,500, after which it's 100% covered. So if I have a $50,000 procedure, I'd end up paying $2,000, insurance would cover the rest. If, however, I need a $10,000 procedure, I'd pay $500 + 10% of $10000 = $1,500. Not nearly as good.
So, now the really crappy parts, my cost. These are per month, for just me:
$20 copay, $500 deductible, 90% coinsurance = $87.02
$20 copay, $500 deductible, 80% coinsurance = $71.45
$20 copay, $1,000 deductible, 80% coinsurance = $56.22
There are many other combinations I could go with, but those are the general range. I can't bring myself to pay $90/month in health insurance, so that's probably out. The $1,000 deductible is hard to swallow, and the 80% coinsurance is pretty terrible, so I'll probably go with the $71 plan. Ugh. Nice $50/month increase over 2 years ago.
