General > General info Somewhat hot tub related
Health Insurance
Brookenstein:
I'm a little worried because they haven't released any of the details of the plan they are so 'excited to announce'. In the FAQ there was some mention of prescription coverage and it sounds like that is getting more expensive for formularies (we already pay $30) but generics may be less. None of our scripts ever seem to be generics so I'm not sure what we pay for those. It said something like you may want to talk to your dr about other medications that may be cheaper... I'm a little nervous, but hopeful. It also said our dental is suppose to be improving... if we now have orthodontic coverage I will be a little POd given I just spent $1100 on a retainer that gets delivered Monday that wasn't covered at all. Oh well.
badval:
I work for a Fortune 50 corp & ours has gotten progressively worse each year. Cost is higher & coverage is lower. This year it's getting worse - if your spouse is employed & can get coverage at work (no matter how crappy or costly it is) they have to use it or you pay an extra ~$25/month to keep them on yours. Of course co-pays for everything keep edging up along with annual deductables & out-of-pocket max's.
We have a lot of "choices" as far as plans, levels of deductables/co-pays/prescriptions/etc, but in the end, they all suck. What I really hate is every year or two we change carriers completely, so you have to check out each doc in each plan to make sure you don't have to switch. It's insane.
5 yrs ago, I had my tonsils & adnoids taken out, septum reconstructed, & a tissue reduction in my sinuses. They did all 4 procedures at the same time & I stayed in the hospital overnight. It cost me out of my pocket a grand total of $35 - $20 for the initial doctor's visit + $15 for 2 prescriptions they sent me home with. With the coverage we have now, I'd end up paying well over $1,500. Yet today's coverage (thru the same employer) costs me 2x more per month than what i was paying then.
Brewman:
That procedure you had done probably costs thousands more now than it did 5 years ago, too. We've been struck with double digit increases in medical and drug costs for many years now. Amazing when the rate of general inflation has been under 5% per year for quite a while now. What gives?
Cgy_Spa:
Forgive my ignorance, but as a Canadian I have to ask how you all afford premiums and medical bills like this. Is everything (mortgages, cars, etc) really that cheap down there? Last census info I saw, we have a higher average earnings, public (minimal cost) health care, and yet residual income appears similar. What gives?
Brewman:
I think that depends largely on the individual.
In my case, my employer deducts my health insurance premiums from my paycheck, and the deduction is pre tax-meaning that the premium comes off my pay before they calculate my federal, state, and social security witholdings. So that offsets the premiums by maybe 20% - 30%- the amount I contribute to my 401K plan is treated the same way.
So I learn to live on my net pay. We also have an flex medical spending account we can fund thru payroll deductions, which is also treated pre tax. That money can be used to pay whatever insurance doesn't cover, plus a wide variety of other medically related things like glasses, or contact lens chemicals, etc....
That money has to be spent each year.
I don't know anything much about Canadian health care- but who actually pays for it? Is it thru some type of taxes? Maybe income, or national sales or excise tax?
I've heard stories where people from my state travel to Canada to purchase prescription drugs because they are that much cheaper than here.
I'm curious to know how that works too- are the drug companies charging US pharmacists more, or do our Pharmacies have higher mark ups, or is you Government subsidizing drugs?
In Minnesota our health care is among the best in the world- people from all over the world come here for treatment, but it sure isn't inexpensive.
Wonder why it's so expensive here, but cheaper elsewhere?
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