Open enrollment deadlines and dilemmas
May 18, 2012 9:06 AM Subscribe
It's open enrollment time, and given the changes in all the policies, it's now a lot harder for a clear cut decision.
So my company offers 3 plans: a CDHP, PPO and EPO. (CDHP is not a high-deductible type plan)
I've always used the EPO since it's a premium + co-pays. IE everything is covered 100% after the co-pay. Even the flex-spend auto-reimburses me for all the co-pays. So there's very little paperwork/time I need to spend on it.
Only, now the premium has gone up considerably, the co-pays went up, and they dropped to 90% coverage (with a max-out-of-pocket 6k).
So I'm looking at the CDHP plan. Cost wise, it's ~15% of the EPO (1k vs 7k), has a HRA etc. It pays 80% after 1200 deductible is met, max out of pocket is 7.5k.
It'd be me (mis 30s) and 3 small kids. I can't carry the Mrs because work won't cover a spouse who has access to coverage through their employer.
So, why am I reluctant to move to the CDHP ? I think it's just fear that something "major bad" happens, and we get the shaft. The kids are almost all well-kid visits (viz the strep/whatever about twice a year - they are pretty healthy kids), and I don't get sick too often. The rational part of me says do the CDHP, but the desire to avoid risk is pushing me away, even at a higher cost.
Help convince me, please.