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I previously worked for a private corporation where my employee contribution to the cost of medical benefits was 10% ($125 per month). I will soon be working for another private corporation where my employee contribution to the cost of medical benefits will be 30% ($400 per month!) for comparable coverage. I have had and will have coverage as employee and spouse.
The large increase has prompted me to research what the "norm" is. For those who contribute to the cost of their medical benefits, how much do you contribute?
Roughly $320/mo for family coverage. The whole plan costs my employer $1250/mo. So I pay around 25%. Make sure to look at what your copay is. My premium is more per month than my wifes plan but my copay is less. So when we looked at the number of office visit that we made with 2 adults an a 3yr old. my plan is cheaper.
My employer charge $10 a week for employee coverage. Family coverage is paid 80% by the employee, but I'm not sure how much that is. They used to give the employee free health insurance, but the costs went up pretty drastically this year, so they started to charge a small amount. It works out to one hours pay a week for the lowest paid employee, most make considerably more.
My husband an I are covered under his employer ("cadillac plan" worth paying for) and we pay about $200 a month for coverage for the two of us for medical and prescription coverage. The dental and vision add another $15 or so.
A always go PPO, family and I paid $50 every two weeks ($1300), $750 deductible (doesn't apply to OB, and pedi), and $15 copay. This was BCBS. Great insurance.
Now, I have Aetna and I pay around $4000/year for PPO, but I've only been on the new job a week so I'm not sure of the details yet.
My husband an I are covered under his employer ("cadillac plan" worth paying for) and we pay about $200 a month for coverage for the two of us for medical and prescription coverage. The dental and vision add another $15 or so.
Ok... what is a cadillac plan? Details of this cadillac plan, co-pay,yearly deductibles, 80/20 or 90/10 or 100%, max out of pocket before coverage is 100%,dental max coverage per year, etc..etc. What does this cadillac plan cost the employer also?
A always go PPO, family and I paid $50 every two weeks ($1300), $750 deductible (doesn't apply to OB, and pedi), and $15 copay. This was BCBS. Great insurance.
Now, I have Aetna and I pay around $4000/year for PPO, but I've only been on the new job a week so I'm not sure of the details yet.
I also always stick $1200 or so in an FSA.
Choices for me will be Aetna EPO or POS. Not sure of difference between PPO and POS but will investigate. EPO cost is lower, but has copay for labs of $250 (each occurrence). POS cost is higher, copays are a little higher, but has no copay for labs. There is a copay per year for RX but I'm not sure how much. Hubby gets labs three to four times a year and I get them at least two, so the POS is a better option for us.
Still, the cost per year for us as a couple will be almost $1000 more per year than your family plan. Big ouch for me since previously I had BCBS at $1300 per year, too.
Agreed, I always put about $1200 in an FSA unless I know we will incur a large cost that isn't covered and adjust accordingly for that year.
I wish employees and employers could communicate which would save them both money.
The employer pays 100%.
If the employer's cost is $800 per month reduce the employees pay by $400 a month. Employee will see more take home pay/less taxes as the employer will save money on payroll taxes. It is a win for both sides.
I've always worked at places where employee only coverage was free. Dependant care coverage was the expensive thing because none of the employers covered one penny of that.
Ok... what is a cadillac plan? Details of this cadillac plan, co-pay,yearly deductibles, 80/20 or 90/10 or 100%, max out of pocket before coverage is 100%,dental max coverage per year, etc..etc. What does this cadillac plan cost the employer also?
Copay is $15 for office visits, 90/10 to the first $1000, then 100% covered for hospital. Prescription co-pays run $3-20. Some labs are "free" (Pap for example), others have a small copay.
Dental is seperate, like I said we pay about $15 a month for that and the vision. Dental max annually is $2500, but we've never hit it, and we each get two free cleanings a year. Vision is $10 copay, no cost for lenses and an allowance for frames, my husband gets new contacts every year. I can usually find frames I like that cost me between nothing and $20 or so.
I have no idea what the cost is to the employer, but with over 10,000 employees, they have a lot of bargaining power.
We also do a HSA and plan on $500 out of pocket a year, mostly for my asthma and allergy medication copays.
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