7 ms·

My employer pays $3,575.49 per month for my HDHP ($12,000 deductible). Family of 3. It's Aetna, through one of the large small-business payroll providers. Are w

by defen 2y ago

My employer pays $3,575.49 per month for my HDHP ($12,000 deductible). Family of 3. It's Aetna, through one of the large small-business payroll providers. Are we getting ripped off?

kbolino 2y ago
You're probably not getting ripped off (relatively speaking). When I quit my job to take some time off 3 years ago, and signed up for COBRA, the out of pocket expense for 2 adults came to around $2000 per month, also for an HDHP plan.
mapt 2y ago
Kaiser's "platinum-level" (90% average coverage, no deductibles) plan for a young nonsmoking adult runs about $450/mo in my state marketplace, and most of that is further subsidized for someone who isn't making middle class wages. The medium-deductible, 70%-average-coinsurance "Silver-level" plan is about half that. I don't even understand the concept of a $12,000 deductible when the ACA established maximum out of pocket at: > "For the 2024 plan year: The out-of-pocket limit for a Marketplace plan can't be more than $9,450 for an individual and $18,900 for a family." What are you even paying for?
- kbolino 2y ago
  The individual marketplace plans seem to exist in a totally different world from employer-provided plans. When I went from my old employer's COBRA to an MD Health Connection plan, my premium dropped nearly fourfold even with no subsidies.
- defen 2y ago
  > What are you even paying for? I have no idea! High-deductible plans give you access to HSAs, which are the "don't pay taxes" cheat code (you put in pre-tax money, it gets invested in the market and grows tax-free, and you can spend it tax-free if it's on medical expenses; if you're over 65 you can use it for anything and pay regular income tax). But I'm paying 42,000 per year pre-tax for that privilege + insurance; maybe it's better to just get paid that as salary, take the income tax hit, buy coverage on the open market for far less, and then invest the leftover money.
  - mapt 2y ago
    So your premiums aren't being spent on healthcare, they're essentially being invested in a retirement plan?
    - nsxwolf 2y ago
      You still pay the premiums. You just have access to an HSA account you can make separate pre-tax contributions to. Sometimes your employer puts some amount in as well on some regular interval.
simonsarris 2y ago
That seems high. Family of 4 and I pay $447, employer pays $1,342 (so total $1,789). My plan is Anthem Silver Preferred Blue PPO 4000/10%/7250 w/HSA - in other words $4000/person deductible (or 8k for whole family). This is through Gusto, company is in New Hampshire.

by defen 2y ago

My employer pays $3,575.49 per month for my HDHP ($12,000 deductible). Family of 3. It's Aetna, through one of the large small-business payroll providers. Are we getting ripped off?

kbolino 2y ago

You're probably not getting ripped off (relatively speaking). When I quit my job to take some time off 3 years ago, and signed up for COBRA, the out of pocket expense for 2 adults came to around $2000 per month, also for an HDHP plan.

mapt 2y ago

Kaiser's "platinum-level" (90% average coverage, no deductibles) plan for a young nonsmoking adult runs about $450/mo in my state marketplace, and most of that is further subsidized for someone who isn't making middle class wages. The medium-deductible, 70%-average-coinsurance "Silver-level" plan is about half that. I don't even understand the concept of a $12,000 deductible when the ACA established maximum out of pocket at: > "For the 2024 plan year: The out-of-pocket limit for a Marketplace plan can't be more than $9,450 for an individual and $18,900 for a family." What are you even paying for?

kbolino 2y ago
The individual marketplace plans seem to exist in a totally different world from employer-provided plans. When I went from my old employer's COBRA to an MD Health Connection plan, my premium dropped nearly fourfold even with no subsidies.
defen 2y ago
> What are you even paying for? I have no idea! High-deductible plans give you access to HSAs, which are the "don't pay taxes" cheat code (you put in pre-tax money, it gets invested in the market and grows tax-free, and you can spend it tax-free if it's on medical expenses; if you're over 65 you can use it for anything and pay regular income tax). But I'm paying 42,000 per year pre-tax for that privilege + insurance; maybe it's better to just get paid that as salary, take the income tax hit, buy coverage on the open market for far less, and then invest the leftover money.
- mapt 2y ago
  So your premiums aren't being spent on healthcare, they're essentially being invested in a retirement plan?
  - nsxwolf 2y ago
    You still pay the premiums. You just have access to an HSA account you can make separate pre-tax contributions to. Sometimes your employer puts some amount in as well on some regular interval.

simonsarris 2y ago

That seems high. Family of 4 and I pay $447, employer pays $1,342 (so total $1,789). My plan is Anthem Silver Preferred Blue PPO 4000/10%/7250 w/HSA - in other words $4000/person deductible (or 8k for whole family). This is through Gusto, company is in New Hampshire.