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With the information David was able to provide we can now look at some insurance pricing with the focus on Group verses non group cost. While this is a simplified model and we don’t know all that may be folded into the districts plan it does provide two sources of public information (the contract and the public MCHA rates) to do a quick analysis
“The district offers two different health plans for employees and one > of the > plans offers three different levels of deductible, so the premiums > vary. The > district pays 100% of the cost of single insurance for full time > employees. > The premium ranges from $3937 to $4,463 annually. For family > insurance, the > district will contribute $7,200 annually for a full time employee. The > premium ranges from $10,276 to $12,691 annually.”
Using single coverage of $3947 to $4,463 that is $328 to $372 per month
Using the MCHA table (Remembering this is for people who have been denied conventional healthcare insurance coverage because of healthcare problems)
The cost of a $500 deductible policy ranges from $150.65 per month age 15-29 to $447.64 for someone age 60-64. The cost of a $1000 deductible policy ranges from $ 122.84 to $365.65 And the cost of a $2000 deductible is from $94.90 to $282.63
The family rates are $856 to $1,058 per month
Using a couple ages 45-49 as those most likely to have children under 21 the following rates would apply
500 Deductible $259.05 +$259.05 + 2 Children $243.22 Total $ 761.32 1000 Deductible $270.75 + $270.75 + 2 Children $ 184.76 Total $ 726.26 2000 Deductible $159.74 + $159.74 + 2 Children $ 143.26 Total $ 462.74
Given the fact that the employee in this or any situation can be given the difference pre tax if used for their healthcare needs why would anyone not want to consider to take control of their own healthcare needs when the savings is theirs to keep. Since they are buying the policy they get to choose the plan that lets them pick the provider they want. If they don’t like the plan they have the power to change companies.
Check out the costs for yourself or your family and compare it to your group plan you may be surprised. http://www.ehealthinsurance.com/ehi/index.html
Insurance should only be purchased by people who have assets to protect, at a level (deductible) that they feel caps their exposure and their ability to pay the expense or loss and not recover financially and only when the cost to do so is less than their tolerance for the life style change which would be necessary to pay the bill or cancel the debt.
Paul Double
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