Legitimate group insurance or bad deal?
March 17, 2011 12:33 PM Subscribe
Health insurance filter: Is this really an employer group plan or something else? Should we be leery?
Insurance is scary. Please help us not make a huge mistake that we'll regret down the road!
My husband has been offered his dream job with a company, but negotiations have been rocky. We're finally learning details about the company benefits and there are a few things that send up red flags to me:
-The employer pays a low, flat $$/month to premiums, not on a percent basis, no matter what the premium is.
-Premiums are set on a per-individual basis; there's no company-wide rate. Individuals have to submit their name, DOB, residence for a premium estimate. Premium rates tend to vary widely from employee to employee. Does that mean rates can be jacked up over time?
-Spouses and children are not covered, but spouses can get their own seperate coverage under the group plan. (What?)
-For reference, the plan is UnitedHealthcare Difinity Choice Plus HSA. The deductible is high, deductible is voted on by employees every year, and it looks like absolutely nothing is covered until the deductible is met.
-Getting more details from the company is like pulling teeth.
All that equals us being extremely leery. It doesn't sound like any company plan I've had before--usually it's a flat premium for anyone in the company. We're doubly cautious because we both have significant health quirks (disabilities and chronic conditions) that have always given us LOTS trouble with underwriting for private insurance.
Biggest fear: We're fearful that the premiums will go crazy due to our personal health histories like an individual plan would.
We're also worried about the stability of such a plan and what the catches are with spouse coverage. We're both very risk-adverse when it comes to our health and want to have the fullest and safest protection possible so we can get the care when/if we need it.
It is a great job though, so are those really red flags or are we scared for nothing?