Galen said:
Do you only have one option on your husband’s plan?
We have three, but that was the cheapest one.
Galen said:
Do you only have one option on your husband’s plan?
We have three, but that was the cheapest one.
That kind of price difference is pretty common, especially if the employer covers more for the employee but not for dependents. Are the plans high-deductible with an HSA option?
@Galen
It’s common for employers to cover a bigger portion of the employee’s premium while leaving dependents mostly uncovered. If your plan is considered ‘affordable’ under ACA rules, you won’t qualify for marketplace subsidies, but if it’s not, you could explore marketplace options for you and your daughter while your husband stays on his plan. More info here.
@Galen
Yeah, it’s a high-deductible plan with an HSA, but I don’t know much about how HSAs work.
Ori said:
@Galen
Yeah, it’s a high-deductible plan with an HSA, but I don’t know much about how HSAs work.
If you don’t go to the doctor often, an HSA can help. You can put money into it tax-free and use it to pay for medical costs later. It also rolls over each year, so it’s good for long-term savings.
One option is for your husband to look for a job with better insurance benefits.
Your husband’s insurance is probably actually around $1,000 too, but his employer covers most of it for him, while dependents don’t get as much of a subsidy. That’s how a lot of companies structure it.
Insurance laws vary by state. You might want to contact an independent insurance agent to go over all your options.