I Have No Words

Friday, April 18, 2008 10 Comments A+ a-

Before I get started, I need to clarify a few terms:

Open Enrollment – A time which employees can make changes to their insurances, without needing a family status change (i.e., death, birth, marriage, divorce, etc.)

Fiscal Year – Some companies operate under a fiscal year, which is different than a calendar year. For example, October – September.

Deductible – The amount of money an employee (or family member) must spend before insurance kicks in and starts paying for medical costs.

Premium – The amount of money the employee pays each month for insurance coverage.

Coinsurance – The amount of money the insurance company will pay AFTER the deductible has been met.

Since Jon’s job operates on a fiscal year (July – June), their Open Enrollment is right now. We just got word that they’re no longer going to offer the plan that we currently have but have assured us that they’re offering something “comparable”. Their comparable plan will cost us a higher premium ($250 more a month to be precise), while offering fewer benefits (we’ve never had a deductible or coinsurance before).

I have no words to describe the outrage I’m feeling right now. And this, friends, is why we can't afford for me to be a full-time, stay-at-home mom. I really hate insurance sometimes!!

Edited to add: I was really hoping you'd be able to open the chart up to get a better look at it. But for the comparable plan it will cost us (the employee) $764.68 per month for Employee + Children coverage. To cover the entire family, it would cost us $1,324.56 per month. Grrrr!!

I’m a coffee drinking, book reading, laundry procrastinating, husband and children loving, mess of a woman who believes that chips and salsa can fix anything. We have chickens running around the backyard, a mountain of dishes in the sink, and on any given morning, I have at least 10 school forms that need my signature or initials. It’s a crazy life {I prefer to call it controlled chaos}, but its ours.

10 comments

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Becoming Me
AUTHOR
3:58 PM delete

I feel your pain blogger sister, I feel your pain

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crystal
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4:38 PM delete

EWWW! We self employed people dont even have insurance. So yeah I feel your pain..

Hugs..
Crystal

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Amazing Racer
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6:25 PM delete

We are in "open enrollment" as well, and after doing some research, it was cheaper to toss our kids off hubs' plan and get them their own policy. With the money we are saving, we are setting it aside for the deductibles.

All that to say, health insurance gives me a headache!!!!

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Deidre
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8:55 PM delete

That is so nerve-racking. I'm so sorry.

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Anonymous
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9:41 AM delete

We have to buy our own insurance. We went with the high deductible plan with a health savings acct. Our plan only covers 3 physicals a year, and everything else is out of pocket until we pay a little over $5000 for the family. We can put up to our deductible every year into our health savings acct and it is tax deductible.

I would rather have better insurance, but ours had gone up to $1200 a month. I don't know if you ever listen to Dave Ramsey or have read any of his books, but this is what he recommends. I cost us about $307 per month.

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Melissa King
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2:00 PM delete

That is ridiculous! I seriously hate insurance with a passion. I hate that they can take advantage of you because you HAVE to have it!

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Jason
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6:18 PM delete

Let me guess...health insurance off of a government plan. When they switched stephanie's around this last year, they also offered a "comparable" family rate. After looking at the numbers, it would have been $800 a month for our family...or roughly half of her monthly pay. Once more, yeah for insurance... /grumble/grumble/grumble

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RDC CCC Mom
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5:53 PM delete

We are facing the same situation! It costs $300/month more to have me on the policy (which I basically go to the OB once a year, and would need coverage for an accident or serious illness)...so we are exploring just having the kids on the policy with my hubby and then getting me on a different one by myself at a premium much lower than $300/month! Health care is such a mess and its so terrible how it affects everyone so negatively!

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Sara
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9:14 AM delete

I saw someone else said this, but that sounds a lot like Andrew's insurance, and we discovered when we just had Ethan that it was WAY cheaper for himt o have independant insurance. Now me and the boys have our own and it is only $250 per month (total) so you should look in to it. I have a great insurance guy if you want his number.

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