Random insurance question

I now have the opportunity to change my insurance coverage from what I picked when I started at this job 6 months ago.

I work for the fed. gov't so I have a plethora of plans to choose from - some offer amazing fertility coerage, but have a high premium, others (like the one I currently have) offers minimal fertility coverage, but low premiums.

So, I've been trying for over 6 months and am now seeing a specialist. My current insurance covers everything but IUI and IVF, but I suspect, or I guess, HOPE, that it won't come to that.

On the off-chance that it does come to that, should I change my coverage for this year? We're talking about a LOT of money in premiums and I just don't know if it's worth it.

Words of wisdom please!

Re: Random insurance question

Is there a "medium" ins that you could sign up for just for the year and then get flexible spending to cover the uncovered costs? Personally, I would go for the higher-premium one for this year expecially if you are going down the fertility specialty road.. Unexpected things come up and you don't want to be paying out of the pocket (and out the nose).

Re: Random insurance question

Posted by Bluepixie

Is there a "medium" ins that you could sign up for just for the year and then get flexible spending to cover the uncovered costs? Personally, I would go for the higher-premium one for this year expecially if you are going down the fertility specialty road.. Unexpected things come up and you don't want to be paying out of the pocket (and out the nose).

Re: Random insurance question

Posted by MrsNYPDsGirl

Posted by Bluepixie

Is there a "medium" ins that you could sign up for just for the year and then get flexible spending to cover the uncovered costs? Personally, I would go for the higher-premium one for this year expecially if you are going down the fertility specialty road.. Unexpected things come up and you don't want to be paying out of the pocket (and out the nose).

I agree that you may want to up your plan for a year or 2. Flex Spending is an option too, but if you set aside a lot of $$$ and then you don't use it, you lose it.

If you are offered an HSA, I think that may be a better option for you as you can bank a lot of money in it and carry it over year to year. And the money is yours forever! I also think (but don't quote me) that once you hit retirement age, it converts to a traditional IRA type plan where you don't NEED to spend it on healthcare.

Re: Random insurance question

I would go for the more expensive plan. Look at it this way. if you get PG naturally, then you will only be paying more ins. for a year.
But if you do have IF issues and have to go a different route, you will be covered, instead of having to either pay all that money (a LOT of money) out of pocket or you will have to wait until 2009 when open enrollment comes around again.
None of us ever think it could happen to us, but the truth is it can, and to have at least the financial burden of IF off your shoulders is worth paying more in premiums, IMO.

Re: Random insurance question

I dont know what you consider very high premiums. I would think that by working for fed gov there should be a plan that offers you a decent middle of the road option. To put it into perspective. I have oxford which covers IF upto 10K LIFETIME. This is only enough for ONE IVF. I would pick a plan where your co-pay is low because let me tell you, after $30 co-pays almost three times a week is getting a bit costly

Re: Random insurance question

I just jumped on my husbands plan. It will cost more, but he has IF coverage which we might need. I didn't want to wait and see if I might need that coverage because the next chance to change will be for the year 2009. Go with the higher premiums. Looks at it this way if you chose the higher premiums you probably won't end of using it, but if you don't you'll be kicking yourself that you didn't choose. Look at it as paying to have a baby natually.