Could use some help

[save.me.money]

Hello all! I am in need of help please. My husband switched jobs a couple of months ago. We talked to the insurance agent yesterday, and basically the plan he is offering doesn't cover dr visits or prescriptions. It has a deductible you have to meet, then after that everything is paid 100%.

So, we can pay for this insurance - which will dramaticallly effect our already tight budget. And then be stuck coming up with the deductible on top of the insurance cost if need be.

Or we can put the money into a savings account that we would spend on insurance so that we have money for dr visits and scripts. And in the case of an emergency our hospital is a county hospital, and will make payments arrangements.

What's your opinions? I need help.

[joyofsix]

Get the insurance. Take it from one who knows, it only takes one unexpected accident to wipe you out.

[Spikey1341]

I would also go with the insurance and put aside some for the deductible.

[Greebo]

Get the insurance, save the difference and use it to pay the deductible.

Can you get an HSA to go with the high deductible plan? Thats what our company offered. We have a $2,400 deductible each, but under the new plan, the premium is less, so the difference goes into our dedicated HSA, which we used to pay copays.

[staceyy]

Does his company offer a medical reimbursement plan where money is taken out of his paycheck to cover medical expenses and reimbursed back to you (after you pay upfront) and then deducted from his taxes? We use this to pay our medical expenses. Also is your deductible in the form of co-pays or do you have to pay a lump sum up front? Another option would be to get a separate prescription plan. You can probably Google to find one. They're usually not that expensive. Hope this helps.

[winner]

Just curious, (I am Canadian), How much is health insurance for 2 adults, and how much is deductible? Also if a person doesn't have an insurance, how much cost the visit to the doctor, or lets say x-ray, blood test and a day in the Hospital?

[Greebo]

Just curious, (I am Canadian), How much is health insurance for 2 adults, and how much is deductible? Also if a person doesn't have an insurance, how much cost the visit to the doctor, or lets say x-ray, blood test and a day in the Hospital?

Insurance costs vary based on the plan, the provider, the type of coverage, etc.

In our case, our per-paycheck premium for employee+spouse coverage with a high deductible (2400 each) is $340.60 (or about $9k / year) and we drop $83 per pay ($2,158/yr) into our HSA. My employer pays 0 % of our premium.

[winner]

Wow, so every month you are paying $681.20 for health insurance for both of you?
That a big chunk of money. God bless Canada!

[Greebo]

Wow, so every month you are paying $681.20 for health insurance for both of you?
That a big chunk of money. God bless Canada!

More on 3 pay months.

But then again - how much do you pay in taxes in Canada?

[winner]

when shopping 12%, but deductions from my paychecks are aroud 20% going to Pension plan, Unempl. insurance and health.

[Goodwin17]

It sounds like a not too bad insurance plan really. My insurance through Dh's work had a deductible of 1500, and then only paid 80% after that. I'm having to struggle through medical bills from unexpected gallbladder surgery earlier this year and then planned gastric bypass surgery. Compare some other individual companies for medication coverage or check out the $4 medications that some of the pharmacies have like Walmart and Target. Some pharmacies even have their own prescription plans you can sign up for.