Super adulting big time
Steven and I did some major adulting last year, and actually took the time, during open season, to switch our health insurance coverage.
It was intimidating and overwhelming to me. I’ll be honest – I didn’t want to put in the work to review it (even though the website makes comparing plans somewhat simple).
But then I heard how the premium was going WAY up on the carrier we use, and decided to look in to it.
Sigh. Turns out, I should have done this MUCH sooner.
When I first started working for the government, and got to choose from 30+ providers (yes, that many!) I just went with the big name I knew. And apparently I signed up for a premium plan. Then didn’t look in to it for, yeah, seven years?
Bad, Kim. Bad.
I was paying out the wazoo and hardly using our benefits at all (I mean, they were good ones, but we didn’t use them). I am NOT thinking about all the money I could have saved with a smaller plan with a different carrier FOR SEVEN YEARS.
That’s what we’re doing now – we switched to a simpler (less expensive) plan with a different carrier, and so far, so good! I was able to easily transfer a prescription… let’s hope things go as well at the doctor and dentist offices!
Themocracy
I did the same thing when I started working, but because I work for what used to be a really good benefits company (now we suck, of course), I was only paying about $2/check for BCBS for a few years. Once those sweet rates went away, I started learning about our other options. I even have a spreadsheet to help decide each year! But even working in benefits, most people at my company have no clue about insurance because it can be pretty confusing and overwhelming (and especially with 30 choices – we have 4 or 5). So if you ever need help with that, let me know 🙂
Wow, $2 a paycheck? That would be AMAZING to have back. I wish you had better benefits!!!! Thank you for offering to help! I will take you up on that during open season if we aren’t pleased with how this year goes!
Adulting is hard. I bought a sleeper sofa last year, then got a happy meal. I didn’t like acting so grown up and needed to balance out the adulting.
LOL!
When I started my job 11 years ago (how?!) I didn’t have a ton of things to do then so I spent a fair amount of time comparing plans and figuring out what was best for me. I still have that same plan! I’ve reevaluated over the years but have never been tempted to change my plan. I was just sad they finally added an option for self +1 right after I couldn’t use it.
That is awesome that it’s worked for THAT long!
Does it make you feel better that self +1 is really helping us out? 😉
Health insurance is confusing! I just had to switch again because Matt was switching jobs and I was on his insurance. I only had 4 choices but deciding between those was not easy! I ended up choosing an HSA which I’ve never used before so we will see how that goes!
Oh interesting! I hope it works out for you!
Yeah, I kind of avoid thinking about it until I have to, which is not the best approach. We did look it over last year and I ended up deciding to stick with what I have. Thankfully I only had three options to compare between.
It’s just… so NOT fun to think about! Ha ha.
Hooray health insurance! I get mine through the marketplace/Obamacare (I personally like to say that Obama himself sells me my insurance. Haha.), so there are a zillion options, all of which are absolutely terrible and expensive as eff. So that’s fun. With The Great Injury Debacle of 2014, when I literally spent more time with my physical therapist than my friends, I learned a TON about how health insurance works, which has been very helpful for actually buying insurance (and/or disheartening, when you look at every option on the marketplace and conclude, “Soo…basically the most affordable thing for me to do would be to die. Great. At least I can console myself with the fact that I most CERTAINLY won’t have to spend time with anyone in charge at any health insurance company in the afterlife, as I’m 100% sure they’re all going to hell.” Hahaha.). The marketplace is such a nightmare – I honestly feel like I need to get married before 2017 (or get a new job that offers insurance) if I hope to have a plan that would cover anything next year, because I can only fathom how terrible next year’s plans will be, when this year’s are already a total joke.
Oh my gosh! I didn’t realize it was so bad! And I didn’t even think about how the marketplace has all those options. You know that saying that humans don’t do well with a lot of options? I really think that is the case with healthcare. Although we really need the options because everyone is so different. We need assistants to help us with this shiz so we don’t have to figure it out. But that doesn’t fix there not being the right option for you 🙁
Ughghghg, insurance is so stressful! I used to feel kind of resentful that my parents never sat down and helped me understand it (like co-pay vs. deductible), but then I just started teaching myself things and googling answers on the Internet…and it’s still confusing and stressful. The other day at work, all the British expats at the company–all smart and competent adults–were complaining about how confusing and awful it was to pick insurance during the open enrollment period. (The whole idea of an enrollment period is so weird to me.)
Sometimes, I just think I should move to another country where the insurance coverage is better and less insane. Just run away, Mica!
I bet even if our parents did explain it, they would only barely understand the options they use… and that might not be best for us children! I HAVE had good luck calling my insurance company for questions, but when you are looking at a bunch… it’s so confusing. Hmm, is the British open season now?
Ha ha ha! Do it!!! Canada? France?
I’m grateful that my husband’s (very large) employer does a great cost breakdown each year for our options, because otherwise, ALL THE NUMBERS would just spin and blur in my head and I’d close my eyes and do the “point and pick” – not a good thing, really. Good on ya for adulting like a pro!
Yay! I am happy they do that for you, too!
I have to say – I am pretty proud we actually did this. Ha! It’s the small things 😉
It’s really a stressful thing, especially when you do have a lot of medical expenses or fear of the unknown. We were going to switch to a high-deductible plan this year that would cost us NO premiums. You basically put your money into an FSA account and it’s yours forever. We chickened out though. We may try to do it next year. The comparison sight said it would save us a couple thousand dollars a year, but I’m not sure they considered everything correctly.
I hope you can analyze it right this year to see if it’s the right plan for you! 🙂
Yeah, adulting is hard. Met with our banker this weekend, and I felt like I was pretending the whole time! I just switched jobs to a place with only one health insurance option, and I was kind of thankful for not having to decide!
Oh gosh. When we refinanced for our town home in 2009 it was SO over my head!!! I felt like I was pretending, too!
Ha! I can see myself being grateful for that too 🙂 (It’s only comparing my old plan to the new ones that made me realize I was paying way too much!)
Ah, open enrollment. Thankfully we just have four options and three of them are basically the same except for the deductible. And one is an HMO which I try to avoid. So, that helps narrow it down 🙂 We also get a really nice breakdown of the costs and benefits of each of them which helps.
Since both Jason and I are on several long-term medications and some of his require regular doctor’s visits we don’t want the super high deductible one, either. We did have the lowest deductible for the past few years but since the prices went up we switched to the middle tier one.
I can’t imagine having to choose from among 30+!
Good! I am happy your company makes it clear between the options 🙂
And it’s nice that they let you look at meds now too to see how much they will cost and all that! At least the info is all out there!!! 🙂
That would be super confusing to have so many options. Honestly it’s such a crapshoot cuz who knows what they’ll need going forward? Glad you changed it so you’re saving upfront though.
Making the switch can save money and even provide the same or equivalent care you do use.