switching health insurances?

[G's mommy]

Hello... DH recently got a new job and they offer BCBS insurance, which, at first glance, looks fairly good. We have 30 days to decide whether or not to switch to that from our current New West insurance through my work. I am fairly sure that we will at least switch him, but maybe keep me and the kids on my insurance.

Other than the obvious pros/cons of price difference, coverage amounts, providers, what else should I consider?

He must be in his job for 3 months before the coverage would begin, so that would put us at the middle of November. I don't want to start over with paying our deductible, but at least it's only for 1.5 months, and we will hope for a healthy time!

Any other thoughts or questions I should research would be soooo helpful!! Thanks in advance!

[TiredX2]

Can you find out when Open Enrollment is for DP's company? And does it match up for your own?

Then you wouldn't *necessarily* need to double up on deductables for the year.

[Pancakes]

Many companies have provisions set where they will consider your previously paid deductible from a different policy. You might check to see if BX has this provision for DH's new policy.

[CameronsMama]

Yeah, if you don't want to have to pay the deductible starting in Nov, you should be able to switch at open enrollment, which would have new coverage begin on the first of the year.

I don't know anything about New West, so I can't help with a comparison, but I've seen both sides of BCBS, we had it through dh's job for a while, and I've dealt with them when I was working in Dr.s offices a few years back. They're pretty good. Sometimes you have to stay on top of them or they take forever to process claims, but I didn't really have any problems with them denying services.

To compare, check all the hidden costs and add them up- look at both options and see what is covered immediately and what is subject to the deductible (for example some policies cover preventative care pcp visits before the ded is met, but under other plans those visits would be subject to the ded so you'd pay out of pocket for those until the ded is met). And find out things like ER visits- some policies sound better than they are. If you have an ER visit copay that doesn't necessarily mean you won't have to pay a coinsurance on each service rendered at the hospital, check the fine print details on each policy before you decide.

[G's mommy]

Thanks for the info!! We still haven't decided, but almost... check this out....

comparing the yearly premiums...

currently- medical and dental- 3100 per year

new possibility- medical and dental- 1500 per year!! Wow!!

I work for a hospital and thought it was pretty good insurance until I had something to compare it to!! I am still checking the coverage, but likely we will switch!!

[CameronsMama]

Originally Posted by G's mommy

Thanks for the info!! We still haven't decided, but almost... check this out....

comparing the yearly premiums...

currently- medical and dental- 3100 per year

new possibility- medical and dental- 1500 per year!! Wow!!

I work for a hospital and thought it was pretty good insurance until I had something to compare it to!! I am still checking the coverage, but likely we will switch!!

Wow!! is right! That's a huge difference in premium. It sounds likely that it will be better to switch, even if you have a few hidden extra costs in there somewhere I doubt it would be enough to equal the savings on the premium.

[cloudswinger]

Yes, you need to compare benefits and deductions, not just premiums. It's seems likely that his employer is paying a higher percentage than yours.

Is he paying premiums for the 3 months he isn't covered yet?

[G's mommy]

Originally Posted by cloudswinger

Is he paying premiums for the 3 months he isn't covered yet?

No, we are not paying premiums yet... we have 90 days to decide... I am not sure if we must pay a couple of weeks before we are covered or what.

Also, I realized today that if I cancel my current insurance at work, they will credit me 62 dollars every pay period (every 2 weeks)!!! Another $120 a month for me!!! :

I still need to sit and compare them side by side... the benefits lady at work is being difficult... I can't get her to answer my questions... grrrrrr... all the more reason to switch!!

Thanks for the thoughts!!

[LittleBirdy]

A couple of things I never thought to look for until I started working in benefits... a) pre-existing limitations clauses and b) maximum annual/lifetime maximum benefits.

Even if the new plan has a pre-existing limitations clause, you can likely get around it by showing proof of credible coverage (no biggie since you guys all already have insurance). But just kind of something you want to check out, just to be sure.

As far as lifetime maximum benefits, some plans don't have a maximum and some do. My work's plan has a $2 million maximum lifetime benefit, and from my experience that's fine for most people unless you have an organ transplant or a baby in the NICU for a looooong time who is also having other issues (surgeries, etc.)

Just my .02, hope that helps!

[Ellien C]

One thing to note is that many companies subsidize insurance for their own employees. So, for DH and I, it is cheaper for each of us to be insured by our respective companies. And then it's cheaper for me to insure our one child. However, if we were to have another child, we'd be on a "family plan" so I could ensure him for "free" once I was ensuring the child.

Our plans are pretty comparable. I've got higher co-pays but we don't go to the doctor that often.

[G's mommy]

Wow!! Another thing I discovered yesterday was that my employer gives me a 61.55 credit each pay period to use toward other benefits if I do not take their insurance. This means that essentially, we are then only spending about $100 for ins through DH's work!!! I think that will be the clincher.