In 2015 I was looking for an affordable insurance plan with a low deductible and good coverage for my family. Before the research I had a premium plan which cost nearly $1,200.00 per month for a family of 3 (again, in the year 2015). The plan had a high deductible. As a result we ended up with high medical debt. This is what motivated us to do this research and share the results with everyone!
Compare Commercial Insurance Companies
Below is a compact overview showing only the most significant results from the research I conducted last year. I was looking for premium insurance coverage.
We concluded that we didn't like any of the plans the major insurance companies offered, due to high out of pocket expenses and high premiums.
Who can afford a $4,000 - $10,000 deductible???
Compare Commercial Health Plans 2023
Please note: the info below is not the conclusion to our research. Press the button below to continue and see the conclusion of or research
Prices listed are per person. Coverage and prices change all the time (usually more expensive!) and it also varies per person due to age etc.
Insurance Company Plan Monthly Premium Annual Premium Personal Responsibility & overall review of benefits
Blue Options Silver
UHC Copay Select
UHC Golden Rule
Blue Select 2341
Deduct. $9,100 - Max. out of pocket $9,100/year Low doctors visit copay, high ER cost, high testing cost.
Deduct. $3,600 - Max. out of pocket $8,600/year Reasonable doctors visit copay, high ER cost, high testing cost
Deduct. $2,000 - Max. out of pocket $8,700/year Low doctors visit copay, low Rx copay
Deduct. $2,500 - Max. out of pocket $7,000/year.
30% co-insurance you pay on most services. Reasonable doctors visit copay, high ER cost, Low Rx copay
Decuct. $2,500 - Max. out of pocket $4,500/year.
20% co-insurance on most services
Or continue to read the research below
Believe it or not but the Florida Blue Select 2341 is the least expensive in a period of 5 years for my personal situation, considering the following facts which are reasonable to assume when you have a pre-existing condition:
For this research I created this likely/possible scenario:
* Period over 5 years, for a family of 2
* 1x Hospitalization
* 1x Urgent Care
* 1x Special testing
* 6x Primary Doctors visit
* 10x Specialist visit
* 60x Prescription drugs tier 1
* 30x Prescription drugs tier 2
Based on the data above I found that the Blue Select 2341 cost me about $76,650 (over a period of 5 years)
including premiums, deductibles and co-pays.
While with other insurance policies (which were less expensive in premiums) would cost me $90K - $100K applying the same data mention above. $76,650 (this is out of your own pocket!) is still a lot of money and it would be hard to afford the premium
($562.97 per person per month).
Conclusion: Commercial health insurance is way too expensive! How can anyone afford these amounts in this economy?
All we would do is sponsor some CEO of a big insurance company.
The research continues as we are going to compare alternative options. Instead of investing in a commercial company, let's compare not for profit organisations who offer similar benefits.
Click on the image to see the comperhensive
spreadsheet which was created to compare
health insurance and get to the final conclusion of affordable quality healthcare.