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Can you spell "no-brainer"?

October 6th, 2006 at 01:20 am

Two posts in one day is pretty rare for me, but I have a great savings opportunity during this year's open enrollment for health benefits.

For as long as I've worked part-time (8 years), we always got our benefits through hubby's company because I was never sure I would stay employed for the whole year. (In retrospect, this was a mistake, because if I had quit/been fired, we would have been eligible to get the benefits through hubby mid-year).

Anyway, with open enrollment for both of us approaching, I decided to take a closer look at our benefits.

By switching our health plan and getting it through my company, we will save over $1100/year, with better benefits! Hubby's doctor and the kids' doctor are in both plans, so that's a wash. Neither of my doctors (regular and obgyn) are in my plan, but for $1100 I'm willing to switch. My old obgyn is in my plan, so I'll go back to him. (Really liked him, but he's far away. For a once a year checkup, I'll suck it up). I usually see my regular doctor for a physical every 2 years, plus the (very) occasional cold, so I'll be satisfied with anyone.

If I make this switch, I'll save $687 in premiums per year. My prescription plan is also much better than hubby's, and will save us $454/year, assuming we continue to use the same meds. In addition, I have no in-network deductible (vs. his $500 indiv/$1000 family), My out-of-network deductible is $300/$600 instead of $500/$1000, and my copay is only $15 vs. his $20. Can you spell "no-brainer"?

My vision plan also has similar benefits to hubby's. The premiums listed on our benefits website are suspiciously low, so I need to confirm them next week at the benefits open house. If they are what they say they are, I'll be switching that too.

Finally, my dental plan has better coverage than hubby's, for about the same price. Only downside is that the kids' dentist (who I think is GREAT) isn't in my plan, and it's not worth switching dentists, or paying him full price.

So I'll bask in the savings from the health plan, and possibly the vision plan. It was definitely a little tedious to compare the plans, but well worth it in the end. Even if mine wasn't better, at least I'd know I checked it out.

So all of you two-career families out there in frugal-land...check both your benefits!!

3 Responses to “Can you spell "no-brainer"?”

  1. boomeyers Says:
    1160104151

    Congrats! If there is one bill we fight the most, it is healthcare! Hope it turns out fantastic!

  2. PRICEPLUS Says:
    1160115260

    You really did your homework! Enjoy the savings!Smile

  3. LuxLiving Says:
    1160134744

    mjrube94 - Good on you for doing your homework!! Sounds as if it will really payoff for you guys!

    Healthcare financing - the next apocolypse!

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