I can remember when I hired my first full time employee and it was time to go out and get health care, it was a whole $100 a month and so it seemed so reasonable for Antharia to foot the entire bill for my staff.  As the staff size grew this remained the standard, but over the years the rates just went up and up and up.  And well, today in hand I have my 2010 renewal notice for CareFirst BlueChoice and folks; it has gone up so very much.

Now I am not gonna lie and tell you it has stayed $100 per year since hiring my first employee so long ago but I will tell you that our health insurance costs have risen every year by 12-15% and it just has to stop.  A 12-15% increase in costs for a small company is enough to actually mean loosing health care.  To put that in dollars and cents it has now gone up to: $432 per employee.

So what are my choices?  I do have some choices.  I can ask the employees to foot the bill and pay the difference.  I can cancel insurance but that is not gonna fly in the future of the health care bill and the theory of being a decent human being and good business owner, or I can change the type of coverage we have.

So here we go.  I am sharing this for all of you business owners, those of you thinking about insurance or those of you bitching about your jobs and that they don't give you anything.  Fact is, we pay for more than you can ever realize.

In looking over the options I can stay with what we have which is a pretty sweet plan, even if it is an HMO for $432.  Co pays are 10/20 with RX at 10/20/30 and any ER visit when not admitted is $35, it includes dental but no vision.  The package offers a number of alternatives to be considered as they are a bit all over the place and have some rules attached to em.  They range from crazy deductibles to high co pays.  Ok, Internet you decide, if I have to down our plan to one of two more affordable plans which would you choose:

CURRENT PACKAGE $432

• HMO
• $10 PCP / $20 Specialist
• Inpatient Care: No Charge
• Deductible: None
• Coinsurance: None
• Emergency Room Visit (if not admitted) $35
• Maximum Benefit: Unlimited
• RX: $10/$20/$30 & Mail Order $20/$40/$60 (no annual maximum)
• Dental Included

DOWNGRADE A $236

• HMO
• $30 PCP / $40 Specialist
• Inpatient Care: $1000 Per Admission
• Deductible: None
• Coinsurance: None
• Emergency Room Visit (if not admitted) $100
• Maximum Benefit: Unlimited
• RX DEDUCTIBLE: $2,500
• RX: 75%/75%/75%

DOWNGRADE B $256

• HMO
• $20 PCP / $30 Specialist
• Inpatient Care: Deductible then $250 per Admission
• Deductible: $1,200
• Coinsurance: 100%/0%
• Emergency Room Visit (if not admitted) Deductible, then $100
• Maximum Benefit: Unlimited
• RX: $0/$25/$45 & Mail Order $0/$50/$90 (no annual maximum)
• RX: Caveat, Coinsurance up to Maximum Payment of $75 per injectable.

 

So world what would you do?  Tell us in comments, tell us on twitter @antharia, I am curious to hear from as many folks as possible.  I have to turn in my paperwork in early July.

-- Jordan Dossett

Posted by Jordan Dossett on June 22, 2010 at 01:48 pm EST

Tags: healthcare, insurance
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