Sample healthcare insurance identification card igure 3.3. The State Employees\'

Question

Sample healthcare insurance identification card igure 3.3. The State Employees' Plan XYZ Health Plan Subscriber Name: IAM A WORKER 01 Subscriber ID EDQY43211904 Unknown State University Group No: V730912 RX Bin/Group 150046 Date Issued: 10/01/** Options Standard 80/20 In-Network Member Responsibility: $30 $70 Generic Rx $12 copay for 30-day Primary supply Preferred Brand Rx $40 copay for PT/OT/ST/Chiro $52 30-day supply Nonpreferred Brand Rx $64 copay Urgent Care for 30-day supply Specialist MH, SA $52 $87* $233* + 20% ER *Same for out-of-network

Explanation / Answer

Yes, Alexander should change his health insurance from the one on the health insurance identification card to a high deductible plan with a health saving account because Alexander is a healthy person with no serious chronic illness and can afford the deductible in case he gets sick. He could also get tax advantage savings in a high deductible plan. He doesn’t need much health care. A high deductible plan is not used by those who have a serious chronic illness and cannot afford the deductible as they see high out of pocket cost in such plans

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