November 2, 2006
I keep racking my brain for a suitable post that I have the energy to complete, sensibly, but just can’t. There are about six different topics I’d like to touch on, but just can’t. I don’t function very well on about three hours of sleep. I’m not falling over – yet- but I ought to be. I don’t know what’s wrong about the temperate weather conditions but I feel like my winter-prepped sleep system was kept up all night because I was too warm.
I’m just tired.
Plus, my fingers are puffing up from working on the computer too much. Ew.
October 31, 2006
Luckily for me, Open Enrollment runs from November 1-22nd so I have all the way up to pre-Thanksgiving to do my research and make my decisions regarding changing medical plans, my FSA allocation and all sorts of other goodies. When I unearthed my desk this morning, I came across my Benefits News 2007 newsletter which informs me that:
My co-payment under the HMO will increase by 50% from $10 to $15 per office visit.
*The PPO 90%(covered)/10%(copay) split remains the same.
One aspect of the PPO prescription drug benefit is clarified a little: Mail service is available for lower co-pays on maintenance medication.
*I expect to have some sort of maintenance medication, all the time.
Life Insurance: Can be purchased in multiples of your regular annual pay – 1x, 2x, 3x, 4x, 5x.
Your Age: 25-29
Rate per month per $1,000 (payroll deduction; after-tax dollars): $0.039
*They include term life insurance for dependents. I think their whole explanation of how to calculate life insurance, and why you carry it, should utterly negate the point of life insurance for children, shouldn’t it?
“You buy life insurance to replace your income in the event that you die when others are relying on you for support.”
*Yes, I am one of those young folks who will find it necessary to buy substantial supplemental life insurance for the next few years. I want to make sure that my parents will be taken care of, especially if I’m not there to do it.
Designating your beneficiary: I didn’t know that I could stipulate “per stirpes” (“should a primary beneficiary predecease you, the beneficiary’s share of the inheritance will go to his or her heirs”) versus “per capita” (“should a primary beneficiary predecease you, the successor beneficiaries would share the inheritance equally.”)
Supplemental Disability Insurance: Unfortunately, there isn’t any information on this and I know I wanted to make a decision about this.
Thursday is the Benefits Fair so I can try to get answers to most of my last niggling questions before I actually have to make a commitment. I feel very organized about this whole benefits thing, finally. Maybe I’m getting the hang of it!
October 27, 2006
The hold message on Time Warner Cable’s Billing line is: Due to incremental weather, your hold time may be longer than usual.
It’s a good thing you’re not having inclement weather on top of your current woes, isn’t it?
*tsk* Does no one proofread their scripts before they play it over and over and over? I’d be nicer [aka, less annoyed] if I weren’t forced to hear that refrain 74 times while trying to cancel their overpriced service. And I will have to hear it again later when I call back to try to get a real person on the line.
So I actually DO have good news, Verizon is UP! And working well! So outsies goes Time Warner once they stop having the weather that changes in small measured amounts which, apparently, makes their phone system go all wonky.
In the midst of all the work, getting sick, falling behind and general stressful hullaballoo, I’ve realized that there’s no way I can complete pay-to-sign-up offers on Cashduck or Deal Barbie and remember to cancel in time, so it’s best that I not start anything that I will end up paying for later.
It’s a little disheartening because the extra income definitely fills in holes in the household budget that would otherwise be filled by yet another cartload of overtime by yours truly.
And, the blog is feeling rather stale around the edges, there’s a little of that dull *crunch* that you get when something’s gone off and I haven’t got anything fresh loaded up in the queue.
Kodak is debuting a new line of photo card designs and is giving one away free using the coupon code: WEUJ-FOQVEEYY
*Offer expires on 11/06/06. Enter coupon code at checkout to redeem. Kodak EasyShare Gallery will provide one Free Card, on a one-time-only basis. Free cards are limited to Kodak Gallery Classic Fold Card, Kodak Gallery Accordion Fold Card, Martha Stewart Accordion Fold Card and Martha Stewart All-In-One Card ONLY. Not valid for prints, archive CD, Gift Certificates, Kodak PhotoShow DVDs, KODAK cameras or accessories or clearance items featured on the Gallery, shipping, sales tax, film processing, subscriptions to the Kodak EasyShare Gallery Premier Service or KODAK Mobile Service, or products or services offered through the Mobile Service. One coupon redemption per customer. Cannot be combined with other offers in one order. No substitutions, transfer rights or cash equivalents will be given. We reserve the right to modify or discontinue promotions at any time. Coupon code or discount valid only on www.kodakgallery.com.
October 25, 2006
I’ve been sticking with my HMO for the past 2 years, doggedly, against my supervisor’s recommendations because it’s cheaper.
The HMO is more complicated than the PPO because it’s 20 minutes east of my home, whereas work is 1 hour and 20 minutes west. This means that I have to take a half or whole sick day for an appointment, make arrangements to drive to work instead of taking the train which can inconvenience my parents who might need the car, and getting a convenient appointment is not always simple.
With the PPO, I could just go to the doctor during the work day, any work day, and usually be seen with or without an appointment. I would not have to take more sick leave than the amount of time required to see the doctor. Of course, using up sick leave is not really an issue because I still have about two weeks’ worth now.
Since Open Enrollment starts next week, I thought I’d take another look at some of the most important factors that I would be paying for if I switched from HMO to PPO.
[Excuse the lack of presentation, I can’t figure out how to do tables in Blogger]
Monthly Cost
PPO: 72
HMO: 41
Monthly Difference: 31
Annual Difference: 372
Office Visit Copay
PPO: 10%/20%
HMO: $10
*** PPO could be cheaper, do visits run more than 100/visit? If I go to an on-campus office, it’s 10%, if I go to an in-network/ off-campus provider it’ll be 20%.
Preventative Care (vaccines/screenings)
PPO: covered
HMO: covered
*** PPO only covers the first annual screening
Prescription Copay — this is where it gets complicated:
PPO (30 day supply)
15% of cost, minimum of $5 (generic)
20% of cost, minimum of $20 (for brand, when no generic available)
40% of cost, for brand when generic available
HMO (up to 100 day supply) — at the HMO pharmacy, not covered at other pharmacies
$10 for generics
$15 for brand name drugs
*** I probably pay about $30, 4 times a year for prescriptions right now. That’s usually a 100-day supply per prescription. Each drug would have to be <$25 each to come close to the prices I'm paying now. But they DO have mail service available.
Emergency Care
PPO: $75, waived if admitted directly to hospital
HMO: $35, waived if admitted directly to hospital
Ambulance
PPO: not available on campus, 20% if taken to off-campus site AND it’s a “true emergency”
HMO: no copay, plan pays 100%
In-hospital Expenses
PPO:
Skilled nursing facility – 100/day, max of 500 on-campus
– 150/day, max of 750 off-campus
Surgery – not available on-campus
– 150/day, max of 750, limited to 60 days per calendar year regardless of cause
Dr visits (related to surgery) – 10% on-campus
– 20% off-campus
HMO:
Skilled nursing facility – 100/admission
Surgery – 100/admission, plan pays 100% up to 100 days per year
Dr visits (related to surgery) – no charge
I know that I’m not likely to need the last few categories of Emergency Care, Ambulance and In-hospital expenses, but it’s always good to know what I’ll be expected to pay in case of an emergency. Overall it just looks like I’d be paying about $500 more per year simply for the sake of convenience. [Or about $400 more, if the prescriptions are much cheaper at cost than I realize.] I know it’s taken out of my check pretax, but I feel like I’d be paying more for the privilege of getting less coverage. I can’t really argue for the quality of care, even though ALL pro-PPO people insist you get better doctors this way, because I know plenty of people who work at the current on-campus facilities who aren’t gung-ho about the idea of actually being treated where they work.
I suppose the other part of the equation is the recouped work time: will I make enough during those days in which I visit the doctor without having to leave work for a half or whole day to make up for the extra cost? [6 appointments/year, approximately 2 hours each = ~$200]
And if I factor in gas/mileage, does not having to drive an extra 120 miles that day also make up that cost? [A trip calculator estimates that it costs approximately 10.50 per day I commute which = $63 for six appointments/year]
Huh, I guess, assuming I see the doc 6 times a year which is what I’m supposed to do now, I would only be paying a little over 100 more per year. If I see him/her more frequently, my difference in cost actually decreases even more. The convenient option could actually save me money. I’ll go ask some questions at the Health Benefits Fair next week and see if I can get a ballpark estimate on visit and prescription copays. The switch may not be such a bad idea after all.
October 23, 2006
November means autumn leaves, nippy winds, brown and gold, and the start of the holiday season, but for us workin’ folks it also means: Open Enrollment!
So, do you need to update or change anything? Let’s take a look, shall we?
Medical: Were you happy with your HMO or PPO coverage this year? Do you need to make any status changes? As a single adult, I have nothing to change here. I could change from an HMO to a PPO but … I haven’t decided if I love or hate Kaiser yet. I don’t like the idea of running into my doctor at work though, it seems a little weird, which is a risk I run if I change from Kaiser to Blue Cross.
The monetary difference is: $41/month HMO versus $72/month PPO.
Vision: Was vision included in your medical? Do you need it to be? Can you add it if it’s not already included? Cause eyeglasses are expensive!! *glaring at the $200 frames ‘n’ lenses that I rarely, if ever, use*
Dental: This is just as important as having good medical coverage. Just a few problems can incur thousands of dollars worth of work and you do NOT want to be stuck bearing the full bill. Make sure you know what your copay and yearly deductible is. Make sure to schedule any end-of-the-year work soon because about a jillion people will realize [like me. That’s right, I’m a slacker!] that I’ve got to get my last checkup and cleaning done.
FSA allowance: Now’s a good time to evaluate whether or not you will be needing the same allowance for the upcoming calendar year: do you expect to schedule any major labwork, dental work, checkups? Will it all be routine copays and prescriptions? Do you regularly use prescription or non-prescription drugs throughout the year? Add it all up and make sure that your FSA covers at least your basics. That relieves your tax burden AND gives you an extra x% bonus on your money that would otherwise have been taxed before you got to spend it.
Dependents: If you have them, they are usually eligible under the FSA plan as well. I haven’t really gotten an answer about whether or not dependents, as defined by the IRS, count as FSA dependents but I resolve to be more pioneering and find out. Meanwhile, I bid thee, go forth and maximize!
Did I forget anything? I would touch on retirement accounts but I play with that year round so I don’t feel like it’s an open enrollment thing.