Why I am going with the HDHP during open enrollment season

[hmarkway]

Attached is my spreadsheet breakdown of my situation (in jpeg format since we can't upload excel). I'm currently BCBS Self, but looking to switch to GEHA HDHP. It definitely seems like a no brainer for my situation.

Notes:
~ All preventative visits (annual, vision, dental, pap) covered 100% with no deductible.
~ Basic vision (exam & glasses/contacts) is included in GEHA, so I could drop supplemental vision.
~ Basic dental (biannual exams, x-rays & minor restorations (fillings)) is included in GEHA - need to talk to dentist about what I might need in 2018 - might be able to drop supplement dental as well.
~ If spend $1500 in medical expenses to meet deductible, should consider that I would have paid copays ($30-50) per visit if had been under BCBS - so there is an unidentified cost under BCBS.
~ Free $750 in HSA - and the ability to add another $2700 into the ultimate retirement investment vehicle! (Max $3450 - including employer contribution of $750)
~Would only add $600 in 2018 FSA to cover copays, contacts, dentist = loss of tax benefits
~ GEHA cons - loss of good chiropractic coverage, would have to switch dentist

Total annual savings if only use the preventative doctor visits:
$412.88 - Difference directly between plans
$1162.88 - Including the free $750 added to HSA
$1265.58 - Including dropping vision
$1642.06 - Including dropping dental (I'm not sold on dropping dental yet)

[evilanne]

Have you looked at all the HDHP options?

https://www.opm.gov/healthcare-insuranc ... ance%5D=50

[Chindsey]

I have, and we plan on switching from the BC/BS Basic family plan to the GEHA HDHP (family) with HSA for 2018. Our family is relatively healthy and, as mentioned above, given its tax treatment, an HSA is the ultimate health/retirement savings account.

[hmarkway]

Have you looked at all the HDHP options?

https://www.opm.gov/healthcare-insuranc ... ance%5D=50

Sorry, yes I did. (All numbers based on "Self")

I ruled out MHBP as a HDHP because their premium is higher than GEHA ($199.16/yr more), along with a higher deductible ($2000 vs $1500) and OOP max ($6000 vs $5000). And while they add more to the HSA ($900 vs $750), they don't cover basic vision or dental, so I'd keep my supplement insurances which tips the boat very much against MHBP.

Aetna's premium is almost as high as I'm paying with BCBS basic ($70.09/PP), which puts it $318.50/yr higher than GEHA. It has the same deductible ($1500), and while it has a lower OOP max ($4000 vs $5000), the copays after the deductible is reached is double with Aetna (10% vs 5%) - which I guess means you would reach your OOP max sooner... They cover biannual dental cleanings and check ups, but no minor restorative work (fillings). They also cover annual eye exams, but only $100 towards glasses or contacts once every 24 months.

So for me, GEHA is my HDHP option. But it might be different if my situation was different. For example, someone's situation might make prescriptions a very important part of the decision, so one of the others might be better for prescriptions, but that's not something that matters very much to me.

[Timber82]

GCLAPPER, my mind keeps going to you and the unfortunate financial situation as a result of the diabetes. when I am thinking through all of this, have you tried to sit down and grab the numbers on any of this stuff yet?

I keep thinking you are already paying your insurance premiums, and on top of that maxing the FSA 5k. HSA's max is 6.9K and you will get about 125/month of your premium back so if you continue to contribute the 5k but to HSA, and Max OOP for the HDHP for one person is 5k, so if your daughter meets that then I believe you would not have to spend anything else on scripts or visits or anything and since her meds are applied to the copay I think you will reach the deductible quicker and the Max OOP.

I might bother you a few times until you either tell me to mind my business or that you ran the numbers and it wasn't better. In other words, talked to the HDHP company and a few of your current providers to determine your "cash cost" (usually a negotiated rate between doc and GEHA) a real eye opener for me was finding out my cash price on my prescribed medications, I pay $10 copay but the cash price is $30/month and even less if I get a 90 day supply. yeah that sucks but again the premium savings and "pass through more than make up for that. If I can help you at all I will tell you what I did to arrive at my numbers and or show you how I reached out to the ins companies.

[Timber82]

Just letting everyone know we have until Monday, I just made the following switches

Health
From BCBS Basic (Self+Family)
To GEHA HDHP Self+Family

Vision
None- Cancelled plan in 2016 when I got lasik

Dental
From - United Concordia Self+Family
To - United Concordia Self (Will save 17.65 pp or $458.9/Year)
Reason - My wife has amazing teeth and gums, has not been to a dentist in almost 5 years and she went this past year and they said she was the easiest cleaning they have had since her teeth and gums were in such great shape, I on the other hand have to get cleanings every 3 months and deep cleanings etc.

Hope everyone has taken the time to study all this If not comfortable do not make a hasty decision but start now doing your research for next year (call doctors, pharmacys ask for cash prices) do some comparisons how it would of looked