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Picking a Health Plan, Running the Numbers, and a Farm Update

January 18th, 2018 at 09:09 pm

Last night DH and I sat down and took another look at the health plan offered by the job recruiter company. They offer 4 different plans.

The gold plan has a $500 per person and a $1000 per family deductible. Prescriptions are $10 for generic and $50 for brand names. Co-pay is $35 whether it is a regular doctor or a specialist. Out of pocket max per person is $4500 and per family is $9000.

The silver plan has a $2000 per person and $4000 per family deductible. Prescriptions are $20 for generic and $80 for brand names. Co-pay is $45. Out of pocket max per person is $6850 and family is $13,700. It has an out of pocket max of $10,000 after the deductible has been met.

It offered 2 bronze plans. Plan 1 has a $5250 per person and a $10,500 family deductible. Prescriptions are $20/$80 and then they have a third tier and a fourth tier of 30% and 50% respectively for the really high priced drugs. Co-pay is $50. Out of pocket max is $7150 per person and $14,300 per family.

The second bronze plan is an HSA plan. It has a $7150 deductible per person and $14,300 per family. Prescriptions are $35/$100 with the other tiers again being 30% and 50%. Co-pay is $50. The out of pocket max is $6550 per person and $13,100 per family.

Based on our prescription costs and the fact that my daughter is going to need 2 surgeries in the next couple of months, we knew both bronze plans were out, so it really came down to which would save us more money this year, the gold or the silver.

DH ran the numbers and on the gold plan weekly take home pay will be approximately $1177. On the silver plan it will be $1232. This is without any overtime, his guaranteed 40 hours a week. If he gets ten hours of overtime a week the amounts would be $1523 and $1577.

They are currently on an overtime moratorium for this week and the next two weeks, though DH has been getting 50 hours up until now. But they put the freeze on because they have pushed the end date of the job out to mid-April instead of mid-March, so the rush to get the work done on time has slowed. It means DH will be employed for another month at least, though.

So not feeling we could count on the overtime at all, my numbers to budget with had to be $1177 and $1232. I sat down and figured out the budget with the lower amount to see if we could swing it and still be able to start the 401K contributions in March when he qualifies.

We can swing the more expensive plan and we are going to because in the long run it will be cheaper. I have 7 prescriptions, my daughter has 6, and my husband has 2. I know we might only be on this medical plan a few months and if DH gets hired on through the actual company it will be all different medical than this and a different 401K plan, too, but since I know what is coming up and how much we would be spending, the gold plan will be cheaper, especially since more of it will be in pretax dollars, which will also lower our taxable income.

I have determined we can at least contribute 2% of his income to a 401K which is $36 a week. If after the first month of that he is still working there we will try to bump it up to 4% or $78 a week and see if we can handle that. We will proceed forward with 1% bumps until we get to 6% to get all the matching funds.

I can make some cuts in the grocery budget and we can cut out eating out again. Not that we eat out much, but we do. I think the amount I have allotted for medical expenses will drop, too. I am not sure we will be able to contribute to the Emergency Fund or pay back my mother anything, though. I will try for at least $100 a month into the EF, though.

Our insurance will go up once the will finishes up whatever it is doing and the title of the truck gets transferred into our names and MIL is no longer paying the insurance on it. I reckon it will double, but it might not, since we ought to get a multiple vehicle discount. I am considering at that time dropping everything but what we need for if we are at fault since we will have two vehicles. When you only have one vehicle that is a chancier prospect. We'll see. DS is about to start learning to drive, which doesn't change anything yet, but will once he gets a license.

I hate the idea of having such a cramped budget, but we've lived on less before and I know we can do this with enough self-discipline. Once I can start growing food again that will help, too. The fruit and veggie portion of the food budget from May through October really goes way down.

At least with the turkeys and chickens gone I don't have any animals that are hemorrhaging money. The rabbits pay for their own feed as well as the ducks' feed. We don't get enough eggs for the ducks to be self-sufficient, but the rabbits make up for it. We are down to just 4 ducks and 1 drake now and they forage a lot. They also eat a lot of garden produce in the spring, summer, and fall.

This month has been a rough one with the animals. We lost Annabeth the duck shortly after the new year started and last night Luna Blue died. Luna Blue was the rabbit I had to feed with a dropper full of raw goat milk because her mother died when she was 3 weeks old. Only 3 out of 7 of that litter survived without their mother. But she was the runt and she needed the most help. I adored that rabbit. She was the sweetest thing.

We had a vicious wind storm yesterday and all I can think is that the loud noises scared her and she flipped and broke her back. We've had that happen before with really loud noises and her back was definitely broken. I've lost rabbits when the Med-Evac helicopter has flown illegally low over our house on the way to the hospital on three occasions and twice now to wind storms. It is frustrating. We have more wind on the horizon as well and I hope I don't lose anyone else. I'm not particularly attached to the others like I was to Luna, but I do love them and it is always hard to lose animals.

4 Responses to “Picking a Health Plan, Running the Numbers, and a Farm Update”

  1. LivingAlmostLarge Says:

    All these medical plan choices are complicated.

  2. creditcardfree Says:

    I'm sorry about Luna Blue. It is hard to lose any animal.

  3. rob62521 Says:

    Sorry about Luna.

    As for the insurance, my dad used to say sometimes you have to spend money to save money. I think that is true in your case especially with some surgeries coming up.

  4. FrugalTexan75 Says:

    I'm sorry about your animal losses.

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