The company just let us know that our health insurance premiums are going up this year. Right now, we have a PPO plan, but there’s an option to switch to a cheaper HMO plan. Despite the big hike in premiums, I’ve decided to stick with our current plan because of the flexibility it offers.
An HMO plan for my husband and me would only cost $15 a month, which is a great deal. However, our past experience with this plan wasn’t great. It took forever to get an appointment, and when we finally saw a doctor, it was always rushed and unsatisfactory.
Additionally, to see a specialist with an HMO plan, we’d need a referral from our primary care doctor. This meant making an appointment with them first, and then waiting even longer to see the specialist, dragging the process out for months.
Interestingly, last year, the PPO plan ended up being cheaper than the HMO. So, I applied for the MyEHIC and made the switch. I feel like it was a stroke of luck because we ended up using most of our deductible.
In March, my husband got injured in a soccer game, which led to an ER visit and several specialist consultations. The PPO plan’s flexibility made all these visits possible without outrageous extra costs. While we did have to pay a significant amount out of pocket, getting my husband the best care was worth it and gave us peace of mind.
This year, our insurance premiums are going from $71 to $120 a month. The $15 HMO plan is very tempting. But due to changes in our flexible spending account (FSA) because of Obamacare—from $5,000 in 2012 to $2,500 in 2013—the impact on our take-home pay won’t be huge.
The convenience of our PPO plan, which lets us see specialists in emergencies or for routine care like my dermatology appointments, and having more thorough consultations with our regular doctor, is invaluable.
Since there won’t be much change in our take-home pay, I’m okay with paying higher premiums for our health insurance. It’s like investing in a 401K; the automatic deductions make it easy to manage, and it’s a worthwhile investment in our health and well-being.