Returning to UK after 7 years in US
Apr 9th 2024 | 2:14 pm
#31
Joined: Dec 2001
Posts: 53,356
From: Dixie, ex UK
Re: Returning to UK after 7 years in US
We (Mrs P and I) have "high deductible" insurance (in the US), and our "high deductibles" are only half that amount.
Apr 9th 2024 | 4:17 pm
#32
Forum Regular
Joined: Jan 2024
Posts: 40
Re: Returning to UK after 7 years in US
I actually got my plan wrong a bit as I have $100/month premium (my old employer puts in the rest of the premium ~$500) , $400 deductible and $5k annual out of pocket max and once that is reached 100% is covered. I think dental insurance is very important and mine covers regular cleanings and smaller procedures like fillings and then I have to start paying a portion for things like crowns. High deductible policies can start at $1.4k deductible for a single person and go up.
Last edited by nunnun; Apr 9th 2024 at 4:26 pm.
Apr 10th 2024 | 3:28 am
#33
Forum Regular
Joined: Jul 2022
Posts: 242
From: A Table by the Coast
Re: Returning to UK after 7 years in US
Apr 10th 2024 | 4:07 am
#34
Forum Regular
Joined: Jan 2024
Posts: 40
Re: Returning to UK after 7 years in US
Yes the numbers for a family plan are generally twice that of the single plan. Happily I'm still in good health and just spend the $1200 annual premium and some trivial amounts for an office appointment for an annual physical. My biggest health costs are for the dentist as I've had crowns and root canals over the years.
Apr 10th 2024 | 8:14 am
#35
Lost in BE Cyberspace
Joined: Jan 2006
Posts: 13,212
From: San Francisco
Re: Returning to UK after 7 years in US
Well as others have said, the 'list' price for any procedure or medication is totally bogus. It serves two purposes: 1) to scare you into thinking you couldn't possibly afford to pay cash for anything because it's a closed shop and discounts are only negotiated with insurance companies not Mr&Mrs Joe Cashpayer (that's my uncharitable explanation) and 2) this is the figure the provider gets as a tax write-off in the event the bill is not paid (I am told this is the real reason. Can anyone verify?).
I have regular blood tests every year at Quest. The top line on last year's bill was $1000. The 'insurance negotiated price' was $120. Yeah absolutely bizarre.
My wife is going onto Medicare this year. The base cost is $175 per month but the basic plan puts you on the hook for 20% coinsurance on most things with no out of pocket limit (really scary!). To defray those costs, my wife is planning to get Supplemental plan G. Her costs will be:
Part A $0
Part B $175
Part D $35 ish
Supplement G $200 ish
Total per year $5000 with very low copays and deductibles, so that's pretty much as expensive as it gets and it gives you some peace of mind that costs are contained. For a couple that's $10k which is not trivial, but because the cost is the same for anyone making less than about $180k, it is a regressive 'tax'. $10k from an income of $50k is a big deal. If you make $150k, not so much.
I have regular blood tests every year at Quest. The top line on last year's bill was $1000. The 'insurance negotiated price' was $120. Yeah absolutely bizarre.
My wife is going onto Medicare this year. The base cost is $175 per month but the basic plan puts you on the hook for 20% coinsurance on most things with no out of pocket limit (really scary!). To defray those costs, my wife is planning to get Supplemental plan G. Her costs will be:
Part A $0
Part B $175
Part D $35 ish
Supplement G $200 ish
Total per year $5000 with very low copays and deductibles, so that's pretty much as expensive as it gets and it gives you some peace of mind that costs are contained. For a couple that's $10k which is not trivial, but because the cost is the same for anyone making less than about $180k, it is a regressive 'tax'. $10k from an income of $50k is a big deal. If you make $150k, not so much.
Part A $0
Part B $175
Part D $0.40 (yes, really)
Supplement G (high deductible) $31
That high deductible G saves me - as you point out - the potential for catastrophic uninsured losses. The deductible is ~$2900 per annum, but I've yet to reach even half of what I would pay in premiums for a regular part G supplement. My only prescriptions are generics that cost nothing. So that's ~$200 a month - for premiums at the moment. Of course, that will change if and when my health situation changes. The "nice" thing is that, unlike the supplement, that drug plan can be changed without underwriting on a yearly basis to something more substantial.
I share your principle on when this is essentially a regressive tax or not. For me (and spouse now she is on Medicare too) I feel "ok" with the proportion of our income going to healthcare. Another factor to consider is what healthcare access is like in one's area. I live in a city with a world-renowed medical school and a ton of top class medical facilities. I would likely feel differently if I lived in a rural area with limited medical options for Medicare recipients.
Last edited by Giantaxe; Apr 10th 2024 at 8:16 am.
Apr 10th 2024 | 9:20 am
#36
Forum Regular
Joined: Jan 2024
Posts: 40
Re: Returning to UK after 7 years in US
For me it's:
Part A $0
Part B $175
Part D $0.40 (yes, really)
Supplement G (high deductible) $31
That high deductible G saves me - as you point out - the potential for catastrophic uninsured losses. The deductible is ~$2900 per annum, but I've yet to reach even half of what I would pay in premiums for a regular part G supplement. My only prescriptions are generics that cost nothing. So that's ~$200 a month - for premiums at the moment. Of course, that will change if and when my health situation changes. The "nice" thing is that, unlike the supplement, that drug plan can be changed without underwriting on a yearly basis to something more substantial.
I share your principle on when this is essentially a regressive tax or not. For me (and spouse now she is on Medicare too) I feel "ok" with the proportion of our income going to healthcare. Another factor to consider is what healthcare access is like in one's area. I live in a city with a world-renowed medical school and a ton of top class medical facilities. I would likely feel differently if I lived in a rural area with limited medical options for Medicare recipients.
Part A $0
Part B $175
Part D $0.40 (yes, really)
Supplement G (high deductible) $31
That high deductible G saves me - as you point out - the potential for catastrophic uninsured losses. The deductible is ~$2900 per annum, but I've yet to reach even half of what I would pay in premiums for a regular part G supplement. My only prescriptions are generics that cost nothing. So that's ~$200 a month - for premiums at the moment. Of course, that will change if and when my health situation changes. The "nice" thing is that, unlike the supplement, that drug plan can be changed without underwriting on a yearly basis to something more substantial.
I share your principle on when this is essentially a regressive tax or not. For me (and spouse now she is on Medicare too) I feel "ok" with the proportion of our income going to healthcare. Another factor to consider is what healthcare access is like in one's area. I live in a city with a world-renowed medical school and a ton of top class medical facilities. I would likely feel differently if I lived in a rural area with limited medical options for Medicare recipients.
