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  • Chewbacca
    replied
    I searched again and quotes are less than I stated before with the least on the exchange at $170/mo for BCBS HMO.

    This is a true catastrophic plan, deductible is $6500. Charges on everything but preventive care. Doesn't cover dental, which is usually cheap and/or can be paid in cash.

    If that really is the cost, my medical expenditure allowance should cover it, though through the linked article there's some question if that would be pre or posttax.

    If I use no services, it's a net gain of $1600, $900 posttax or so, and allows me to deduct an additional $3500 to an HSA.

    If that is the true cost, do you think that is worth giving up the employer plan? Numerically, it would be a wash if 3rd party plan was ~$380/mo.

    Leave a comment:


  • East coast
    replied
    Wanted to second Johanna's comment as I briefly researched a similar situation in the past, though I am sure a lawyer could structure something that technically passes.

    While no doubt cost varies across the country, I am also skeptical of your $240-$300 a month premium for purchasing your own for all three plans you mention. At that cost I would not be surprised if you are comparing apples to oranges in terms of what kind of coverage that $$ gets you vs. the employer plan.

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  • jfoxcpacfp
    replied


    I believe if I turned down employer coverage for 3rd party coverage ($240-$300 per month likely), they will reimburse the $2500 toward the 3rd party premiums.
    Click to expand...


    Doubtful. Employers face a $100/day/employee fine for doing so (up to $500k).

    Leave a comment:


  • Zaphod
    replied
    Good luck finding cheap 3rd party coverage, its great if it really is 240-300, and maybe you're single or something, but its very expensive and going up a lot this year alone.

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  • Chewbacca
    started a topic Turn down employer health coverage?

    Turn down employer health coverage?

    My employer offers health, dental, and Rx plan coverage deducted from my paystub at about $130 - $180 per month depending PPO or not, for $1600 - $2100 per year. They will also reimburse $2500 a year toward medical expenses but I don't have much of any, although I could try for some and get corrective eye surgery.

    I believe if I turned down employer coverage for 3rd party coverage ($240-$300 per month likely), they will reimburse the $2500 toward the 3rd party premiums.

    Therefore I could more fully utilize the medical expense reimbursement and a side benefit would be I could find a high deductible health plan and therefore contribute to an HSA. Downside would be opening up to a high deductible, not having the $2500 safety net, and not having the cheaper employee health plan with lower deductible.

    What else would you consider and how would you decide?
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