You can’t just add up all the numbers and make a definitive claim on this one, but there are some things to consider.
We’ve written extensively about the new family plans in the past and, at the time of this writing, the new plans are only available in the state of Georgia, which is a whopping $99 per month for a full family of four.
But the new plan comes with a hefty $7,500 deductible, which the state offers as part of the coverage.
And that’s the good news.
The bad news is that it also comes with an additional $50 per month per person in deductible.
The new plan also has a very steep co-pay that can top out at $7.25 per month if you’re under 65.
The deductible isn’t much of a deterrent for most of us, but if you don’t have kids and don’t want to spend a lot on co-pays, then the new Family Health Plan is definitely not the right choice.
If you’re already on a plan, the Family Health plan offers a nice mix of health benefits, including the following:• $200 deductible per person for hospitalizations and prescriptions• $5,000 co-payment for emergency room visits• $1,000 deductible per visit to a doctor• $500 per year for preventive care• $2,000 for maternity coverage• $6,000 lifetime limit for family coverage, per personFor those who need to save a little more money, the Health Savings Account also offers some health benefits as well, like $1.5 million in annual contribution for the first 3 years.
This account is great for those who don’t feel like they’re getting a lot of bang for their buck, but it also has some limitations.
For example, you can’t add more than $1 million to the account, which can make it hard for you to save enough money to cover a family of three.
The other major drawback of the new Plan is that you can only use the money for your own medical needs, so you may not be able to use the $1 billion in the account to get a mammogram or a prescription from your doctor.
You can sign up for a plan for $199 per year and get a $500 annual co-deductible, but the $5 million limit for the new Health Savings account is still a little steep.
The plan is available in many states and will be available in all states in 2018.
The coverage is pretty decent, and we wouldn’t be surprised if it made its way to a few major cities soon.
