Monday, October 20, 2008

Health Care Costs

It's time again for my company's benefits enrollment. It is amazing to me how much I pay for Health Care costs. Each year I compare my costs from the previous year and try and figure out which plan to choose and how much to set aside in my health care flexible spending account. My company gives me a number of options and this past year we chose one with co-pays instead of deductibles. The downside was that it was more expensive, but it meant we weren't having to manage the deductibles and having to pay so much out of pocket each visit. This past year I paid $9,000 in medical benefits OUT OF POCKET. My insurance was about $3,500 (about $300+ month out of pocket) combined with about $5,000 that I set aside (pre-tax, thankfully) to cover other medical expenses including co-pays, optical, dental and prescription costs. All up, about $8,000 AFTER my company contributes on their end.

I talk to teachers who get great benefits, even though they complain about their low salaries and having to take the summers off. The good news it that I have insurance and can afford it. On the other hand, I don't think a privatized health care system will be cheap or well run if the government gets it's hands on it.

No real point to this post. Just me griping, really.

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