RP: Help needed choosing health insurance (long)

Septmomtobe

 **I originally posted this about an hour ago, however when I went to reply it replied 23 times so I deleted it and reposted it** 

I just started a new job and have the following options for health insurance.  I could use guidance in choosing which plan is best.

Plan 1: lowest cost to employee ($75 per pay).  Deductible of $200 for family.  Co pay at appts (low, $15/$25).  Maximum coverage is $15000 per person per year.  Maximum hospital coverage is $1000 (inpatient surgery) or $1500 (other inpatient services) exclusing room and board. Prescription coverage to a maximum of $500 per year. Plan covers preventative health visits 100% up to $100 per person per year.

Plan 2: highest cost to employee ($316 per pay).  Deductible of $3000 for family; however plan includes a "base plan" which covers $2000 worth of services per person before deductible is met. During base plan time, co pay for primary doctor is $25 and specialist are $50; after base plan limit is reached plan covers 80% and we are responsible for remaining balance (20%).  Prescription coverage is included with minimal co pays with no maximum limit.

We are a generally healthy family. My oldest son also has medicaid insurance coverage through the state due to a speech delay. This insurance coverage would cover anything our private insurance does not cover.  My youngest son does not have alternative health insurance.  My husband is self employed so I am the only carrier for health insurance.

Plan one is nice because it has the lowest out of pocket cost per paycheck.  However the limits on the plan are scary to me.  I fear that if one of the boys (or myself or my husband) require a hospital visit we could be in debt very quickly as the plan only covers a very small amount.  When DS#1 was born he spent 4 days in a NICU and the bill was $52,000 (not including the delivery) so thinking of an insurance company only paying $1500 of that bill scares me to death. On the other hand, the other plan will cost me more than $600 per month. I was laid off in September and we are just not starting to get back on our feet financially so I'm really trying to save money where I can.  I'm just not sure if this is an area to do that in.

Thoughts?

TIA!
Heather

Septmomtobe

There is also a 3rd option that my company offers called the High deductible plan. That plan costs $229 per pay and has a deductible of $6000 for family (with no base plan). With this plan the company contributes $300 in a HSA plus whatever the employee contributes and this money is able to role over each year. I don't see this as an option though because of the extremely high deductible. I am able to change plans once per year (in November) during open enrollment (unless a qualifying life event occurs). We are also going to begin TTC again soon so I worry about the cost of delivery and such. Heather