How is this a medical "benefit"?

Question

My company offers their medical package as an "employee benefit" but after reviewing your plan I fail to see how this is an actual "benefit"... We got a new plan in Jan 08 with Cigna, we pay 43.33 per pay 1127.00 yearly with this plan we have a $700.00 individual deductible and a $2000.00 family deductible. SO if im understanding this correctly between what I pay yearly AND meeting the deductibles Im footing about 2500 a year out of pocket (not including any deductible payments I may owe for my son's coverage). My issue is if we only go to the Dr once or twice a year I am actually paying MORE with health coverage than I am without... Is this correct? Am I missing something? Have I overlooked any "benefits" i might benefit from this "benefit"? LOL seriously though someone please help me understand because I am about to opt out of my coverage all together....

Answer 1

And if your appendix bursts, your hospital bill will be over $15,000.  If you find a lump in your breast - your bills could be over $100,000.  It's insurance.  If you only go to doctor once or twice a year then, yes, it's cost you more than you used (and that's how insurance companies make money).  However, if you need it - it's there.  Think of it as paying for peace of mind.

Frankly, the very idea of not having medical insurance on a child is mind bending.

Answer 2

I don't understand why you would opt out. It will be a benefit to you if something happens and you are struck ill. I know a ton of people who say I don't really need medical caverage, I'm healthy. Please! Don't say you won't ever need it, you don't know what the future holds for you. I don't mean to sound so negative about it but I have children and I couldn't imagine some of the bills we would have had without our insurance. One trip to the ER for my sons broken arm was over $1200. Plus he had 4 more follow up dr. visits.  

Answer 3

   Actually, you're gambling.  Pay this amount , only go to the dr once or twice a year, you lose.

Spend a week in the hospital,  and get a bill for about $ 10,000.00.   They lose.  

Wanna take a chance? your call.

Answer 4

You are correct, you are paying way more than if you just paid out of pocket for a couple visits a year. But consider this, what if something tragic happens to a member of your family? This coverage is for worst case scenario illness and injury.  A fall down the stairs could cause thousands of dollars in medical payments.  If you can afford it, keep your insurance for the "just in case" stuff which happens every day.