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So in any scenario where my medical bills are under 5k the HP is the better route. Any more than that its pretty much a wash. Am I missing something?
Yep - the HDHP is also way ahead if you exceed the plans' OOP limits.
Basically, the maximum you'll spend per year on the HDHP (assuming you hit the family OOP max) is:
6000 + 116 * 12 - 1000 = $6392
The most you'll spend on the PPO:
6000 + 446 * 12 = 11352
(Even if the only medical expenses on the PPO are for mother and child, meaning OOP max of $2000 per individual applies, or $4000 total, you will still be on the hook for $9352).
In general, this is how PPOs and HDHPs, compare. The HDHPs tend to be ahead for low spenders and high spenders, where the PPOs can be ahead in the middle of the road numbers.
In your case, your HDHP has very low OOP numbers, and the company's kicking in with an additional $1,000 so it's a basic no-brainer - there's no spending level where the PPO comes out ahead. ACA plans often have much higher limits (around $6K per person/ $12K family), so it would be less clear-cut.
EDIT: I see you already computed these numbers - but I'll leave my calculations for context.