Health Insurance Calculator that tells you which policy is best for your specific circumstance
The following are examples with graphs showing details on which Kaiser Permanente plan to choose of all metal types:
You estimates your tax bracket, medical expenses, HSA contributions for 2016, and which plans you want to compare and the calculator will recommend which plans are best for your specific circumstance.
A 46 year old non-smoker in Boulder County Colorado who will not be contributing to an HSA account in 2016 and wants to decide which Kaiser Permanente plan to select will see the following.
In the case this individual entered no medical or even upto $2.5K in expenses expected they would be told to go with the KP Bronze HMO 30% 5000 HSA plan.
With expected medical expenses of $10K they would be told the KP Gold HMO 20 1000 was their best choice followed by the KP Gold HMO 20 0 (30%) would be second closely followed by the KP Silver HMO 20 HSA.
Lastly, had this person expected $30K in medical expenses they would find that the Gold plans would not be recommended at all and instead get recommended the KP Silver HMO 20 HSA followed by the KP Bronze HMO 30% 5000 HSA.
For those who don't like graphs or numbers, the calculator makes the recommendation and only supplies the graph for those who like to understand the logic behind the recommendation.
Additional information is provided to educated you on how a few years saving in premiums at the Bronze level with minor medical issues will save you big bucks and will easily handle a year with major medical issues.
It should be noted that these are actual medical plans used in this sample graph and it is clear that the KP Gold HMO 20 0 (30%) will almost always cost you more and be a bad choice for anyone over the KP Gold HMO 20 1000 plan. It is also clear that the KP Silver HMO 30 1800 is much better then the KP Silver 30 2500 for almost any case. The calculator takes this into account and will strongly discourage ever selecting that plan. Last but not least, even without the tax advantages of contributing to an HSA, the calculator never recommends any of the bronze plans besides the HSA Bronze. These other 3 bronze plans should not even exist or be offered as an option!!!
These examples for Boulder County with KP are not unique. Plans all around the United States (on and off the exchanges) have options where one plan is always better then another from the same insurance provider with the same network.
Graph Comparing 46 Year Old Non-Smoker KP Boulder County Plans No HSA 2016
Graph Comparing 46 Year Old Non-Smoker KP Boulder County Plans with Max Contribution of $3,350 into the HSA 2016
For the HSA advantage computed this individual is in the 25% Federal tax rate and 4.63% State tax rate
Graph Comparing Individual Tompkins County NY Excellus BCBS Plans No HSA 2016
If desired, the calculator can also offers the comparison between your recommended plan and no insurance with penalty for your specific circumstance.
Adam J. Griff, Ph.D., computer2@griffmonster. com, +01(303)731-5140 Copyright © 2015-2018 GriffMonster, LLC. All rights reserved.