@WrCombs said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@WrCombs said in What Are You Doing Right Now:
12 plans ranging from 139 a pay period to 650 a pay period. I wish I knew more about insurance. I dont know how to adult to this level. lol
Mostly it is just about math and looking at your financial outlook.
That's slightly helpful, but I'm confused when I look at this list. I don't know any of it works. that's my own fault though. I'm doing some more research on all of that when I have a chance. I have until 12/31 at 11:59 to enroll.
What you do not want is a 70%/30% or 80%/20% plan or worse. You want a 100% plan.
You then set the deductible as high as you are comfortable with comparing your monthly premium and your savings to handle the deductible.
Now, I say that knowing that this is basically the most expensive plan of the monthly premiums you can look at.
So then you start to look at costs and risk of having those costs.
The question then is do you understand what 80/20 or 70/30 even mean?
The 20% or 30% is how much, AFTER you pay your deductible, of any procedure you will still have to pay.
You are a bit young for this example, but it is a common once men hit 45, a colonoscopy.
Weird Fake number: $12k
Plan cost: $1600
Assuming you met your deductible already, you will still pay 20% of this, or $320. If you have not met your deductible, obviously, you will pay that entire amount of $1,600.
This is the kind of math and risk assessment you have to do when buying insurance in the United States.
Another example, my younger daughter crashed her bike and broke her wrist last year. It was a severe break and she had to have surgery. Those costs there were also more than $10k jsut for the one part of the treatment.
We paid $1k because she had not hit her deductible yet. Had she already had an event that hit her deductible, this would have been paid 100% by the plan, for $2050. If I had a plan that was 80/20, I would have had to pay $410 still./ Even though we had already made our deductible for the year.
A 70/30 is obviously worse in all scenarios.
that was entirely helpful, thank you.
