Traditional PPO Plan Compared To HSA PPO Plan

The following comparison was done for a family of four who was currently covered by a traditional PPO plan with Blue Cross Blue Shield of Arizona. 

Blue Cross PPO plan
$2500 individual deductible
80/20% coinsurance
With this plan your family could have a maximum out of pocket of $17,000 not including any copays you incurred during the same year ($2500 deductible x 2/family members=$5000; 20% coinsurance with an individual maximum of $3000/member x 4 family members=$12000).  Obviously this would be a worst case scenario if all of you maxed out the benefits in the same year. 

United HealthOne/Golden Rule HSA 100 Plan
$5000 family deductible
100% coinsurance
With this plan your family could have a maximum out of pocket of $5,000 total because all of your expenses during the year count towards meeting your family deductible ($5000 family deductible=$5000; 100% coinsurance after that means your maximum out of pocket for the year cannot exceed the $5000 family deductible).  With this plan the deductible can be met by one member of the family or by any combination of family members with claims totaling $5000. 

As you can see from an out of pocket stand point there is no comparison between a traditional PPO plan with copays and an HSA plan.  The next thing to compare would be the premium.  Current plan with Blue Cross the premium is $850/month.  The above HSA plan premium for your family would be $433/month saving you $417/month ($5004/year) of which you could contribute all or a part of to a health savings account to use for your out of pocket expenses. 

In this example if you deposited all of the premium savings to a HSA you would have enough in the first year to cover your total out of pocket exposure on the HSA 100 plan.

 In summary by making this change you would be reducing the out of pocket exposure by several thousand dollars per year ($12,000) and using the same dollars you are currently spending on premiums to not only pay premiums but also pay your out of pocket expenses for several years to come.

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you.

IQ Financial Group, llc. is a licensed insurance agency in the state of Arizona.  We offer a complete selection of health insurance, term life insurance, disability insurance, long term care insurance and supplement plans to individuals, families, self-employed and small businesses throughout Arizona.  We offer the best in Arizona Health Insurance.
© IQ Financial Group, llc.

Arizona Department Of Insurance

The mission of the Arizona Department of Insurance is to faithfully execute the state insurance laws in a manner that protects insurance consumers and encourages economic development.  Click to be directed to AZDOI.

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you.

IQ Financial Group, llc. is a licensed insurance agency in the state of Arizona.  We offer a complete selection of health insurance, term life insurance, disability insurance, long term care insurance and supplement plans to individuals, families, self-employed and small businesses throughout Arizona.  We offer the best in Arizona Health Insurance.
© IQ Financial Group, llc.

We Work With Top-Rated Insurers

At IQHSA we only work with top-rated insurers, you will not find sub-standard companies on our quote list.

Here’s why:

·         Financial strength – these days it is more important than ever before to make sure your insurance company/financial institution is financially stable.

·         Smaller companies can either go out of business or decide to no longer operate in a certain state (Lifewise in 2009 decided to no longer operate in AZ).  This can leave policyholders suddenly without coverage or forced to make a change they weren’t prepared for.

·         Smaller companies have a tendency to have wider rate fluctuations.  “Buying business” is a tactic smaller companies use to attract new policyholders only to raise rates substantially at renewal.

Insurance Carriers we work with:

Aetna
Assurant
Blue Cross Blue Shield of Arizona
Cigna
Golden Rule
Healthnet of Arizona
Humana
United Healthcare