Finally done with open enrollment
It was open enrollment time recently at work, and boy am I glad that I finally got my paperwork done for that. (And I’m extremely glad that I work someplace that offers insurance.)
This year we had two choices, which both offered different coverages than what I had the previous year. One plan had a $1000 deductible, and the other had a $3000 deductible. The premiums for each of them were different as well.
I have some medical expenses that I know about already for the coming year — expenses that will put me over one deductible for sure, and pretty close to reaching the second one. So it was sort of a struggle for me to figure out which plan to go with. I had to estimate total expenses, percentage covered, out of pocket amounts, premiums, etc.
In the end I went with the more expensive plan, which will actually end up being cheaper than the less expensive plan, if that makes any sense :)
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December 22nd, 2007 at 11:18 am
Doesn’t financial wisdom sometimes seem counterintuitive sometimes?
January 4th, 2008 at 10:14 am
You absolutely do make sense. The high deductible insurance plan is a good one if you’re healthy and don’t go to the doctor very often. Your premiums are much lower. In the end, it leads to more money in your pocket. Who doesn’t want that??!
Jerry