You need to look at your choices very carefully. Here are some things to think about:
- This plan has a lower premium, but it has a higher deductible.
- There are no copays. You pay the full discounted network rate for services until you meet your deductible.
- After you meet your deductible, you will pay a portion of your costs (coinsurance) until you meet your annual out-of-pocket maximum (20% or 30% of discounted network rates depending on your health plan option).
- You will have a health savings account (HSA) If you want, you can start adding the money you save in premiums along with any other contributions you or your employer makes to your account.
- The CDHP and the PPOs use the same networks and offer the same discounted network rates.
Local government and local education employees should check with your agency benefits coordinator to see if your agency will provide funding for your HSA.