I work for a Fortune 200 corporation in the financial services industry. It's Open Enrollment time and there are some major changes! Long story short, I'll be switching my family from a 90/70 to a High Deductible plan. And I'm not too unhappy about it. I thought I would be, but I'm not.
- HMOs are gone!: There used to be multiple HMO options. They were always on the more expensive side, but they were there. This year, they're gone. All of them.
- The 80/20 PPO is gone too!
- The 90/70 PPO plan has eliminated copays for non-preventive office visits (both primary and specialist) and made them all subject to the deductible. This is a huge change for me. In most years, these office visits constituted the vast majority of my medical expenses. In the past, these visits meant paying a small(ish) copay and being done with it. Not anymore.
- The high deductible plan now comes with an employer contribution equal to 50% of my share of the family premium. Factor that in and my premium is down to about $80 a month.
- The out of pocket maximum on the high deductible plan is LESS than my annual premiums on the 90/70 PPO plan! What possible justification do I have to select the PPO plan now? None.
That last bullet point really struck me as crazy. It almost seems designed to ensure no one signs up for for the 90/70 anymore.
My guess, because I'm a cynical bastard, is they'll remove the 90/70 at some point in the next few years on account of "insufficient participation" and then wait another year or so before they remove the employer contribution to the high deductible.