I am getting more comfortable with health plan lingo and think I have a sense for which plan is better and why, but I'd like to pick the collective MMM brain.
Here are our (my wife and I) options:
*these are all for the same health plans.
1.
Deductible: $2700
In-Network Coinsurance: 0%
Yearly Premium: $2,682, divided into 24 pay periods.
2.
Deductible: $2700
In-Network Coinsurance: 10%
Yearly Premium: $1,534, divided into 24 pay periods.
3.
Deductible: $4000
In-Network Coinsurance: 10%
Yearly Premium: $585, divided into 24 payments
So my understanding is that with Option 1 our fixed costs are higher, but we pay nothing once we hit the premium whereas with Option 2/3 we save money on the premiums, but we pay 10% of all costs (including preventative) beyond the deductible.
So Option 2 is $1,148 less in fixed costs/year. If we have even $10,000 of medical costs beyond the deductible, Option 2 is still the better choice, right? Option 1 only makes sense if we were to have a big surgery, a childbirth, etc. Right?
Am I missing anything?