You aren't going to know what the employer pays. The only place you might find what they claim to pay is from the IRS tax form if they have to give you one.
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- Thread starter SoapyCy
- Start date
You aren't going to know what the employer pays. The only place you might find what they claim to pay is from the IRS tax form if they have to give you one.
I was just about to say....Go get a job for WF and swallow that bullet for the health insurance alone.
It's on my paystub, but that may not be common.
Every employer should make that amount clear to employees -- annually it's a 5-figure benefit for many (most?) employers, yet most do a poor job of making sure their employees know that.
My company covers 100% of individual insurance on our choice of 5 insurance plans, but employees have to pick up 100% of the difference if they want the +1, or family options.
Try hiring people once you tell them about your "health benefits" plan. We tried to hire someone with 4 kids ages 4-11. Guess how that worked out!! Anymore it's not really a "benefit".
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This is exactly my situation - every time I run the numbers each year, it pencils out (based on premiums, deductible and OOP max, co-pay %, employer HSA contribution, etc) that my HDHP makes most sense. The likelihood of using the "sweet spot" amount of benefits to justify a traditional plan is so low that I'd rather roll the dice. It helps to know that the HSA contributions I'm making in place of monthly plan premiums will cover my max-case OOP limit scenario for any given year, and that the $ rolls over if I don't use it.
Hard to beat the triple tax advantage of an HSA account, but the HDHP plan premiums need to be low enough to justify the higher deductible limits and make the numbers work by redirecting those funds into my own account.
Actually, starting last year, it's required by law for any employer with 50+ FTE.
https://turbotax.intuit.com/tax-tip...health-insurance-offer-and-coverage/L0UAyM3y6
Yes, that's the form I referenced. The point is that not all employers make it obvious (and it might not be for those who are just self-insuring).
My brother's a high level financial analyst for a large health insurance company and he said most of the data provided that people are basing their percentages on in this thread(paychecks, benefits statements, etc.)are a bunch of crap and not reflective of what the company is actually paying, so unless you're a higher up directly involved in overseeing your company's health insurance plan, you can take the numbers you're seeing with a grain of salt. Kind of like MSRP prices on things you buy.
I no longer have to pay for health insurance (monthly premiums), but my company's insurance is total trash. I honestly feel bad for people that are making $12 an hour and having to spend minimum $450/month for a family. Deductibles are insanely high as well.
$18,000 is what my company pays for my family’s Medical, Dental, Vision, Life/AD&D, and Disability
$2,360 is what I pay.
So I pay 13% of what my employer pays. I feel very blessed and know that may change at any point. When I first started with this company we didn't pay any of the premium, now we just pay for my wife and kid's health coverage.
$2,360 is what I pay.
So I pay 13% of what my employer pays. I feel very blessed and know that may change at any point. When I first started with this company we didn't pay any of the premium, now we just pay for my wife and kid's health coverage.
My point is that I'm no longer focused on "what are my premiums now." Instead, I want to know what my premiums will be after a major, major medical expense. If we were still on my old individual family plan with Wellmark, I think they would have to drop me. But now that we are on a school district's group plan, our premiums won't change any more than anyone else's.
P.S. Oh gawd, I've become a socialist!
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I'm not sure what we pay, since we're on my wife's insurance. She's a university professor and there's a medical school and university hospital associated with it. If we agree to use the university's resources, things are pretty cheap.
Like, "had a c-section baby last year and paid under $100" cheap.
If you step out of network, though, watch out!
Meanwhile, I switched jobs, and the company that I work for (engineering design firm) has absolute garbage for their insurance options.
Like, "had a c-section baby last year and paid under $100" cheap.
If you step out of network, though, watch out!
Meanwhile, I switched jobs, and the company that I work for (engineering design firm) has absolute garbage for their insurance options.
CycloneErik
Well-Known Member
Ours is garbage. The "affordable" plan we have for my wife and daughter is about $800/month with an $8800 deductible. They each made a trip to the doctor last year. Insurance paid $10 for each visit, leaving us with $150 and $160.
We couldn't afford mine, so I just manage a couple of potentially catastrophic conditions on my own. Avoided a very possible heart attack yesterday, so I'll just pretend the situation is good.
We couldn't afford mine, so I just manage a couple of potentially catastrophic conditions on my own. Avoided a very possible heart attack yesterday, so I'll just pretend the situation is good.
That's kind of where I'm at. Tiny employer (3 employees) that doesn't offer coverage and I don't make bad money by any means. Even with subsidies coverage is $550 per month for just me for a $12k out of pocket max. I'm bankrupt either way so I am not throwing money away at premiums.
I'm a single dad, daughter is on HAWK-I, which is an awesome program.