The End of Employer-Provided Health Insurance: Why It's Good for You and Your Company

Chapter 11How to Select the Right Plan for You and Your Family

Once you have narrowed your list of plan choices based on coverage level, plan type, and provider network, it is time to pick the right plan to purchase. The most useful way to pick a plan is to estimate your future healthcare needs and then review the major features of each policy.

Before you complete the analysis, make sure you have done the following:

• Calculated your premium tax credit amount.
• Narrowed your options to plans within one or two metallic tiers.
• Narrowed your options to plans with specific coverage levels.
• Narrowed your options to plans with your preferred plan type and providers.

Estimating Your Future Healthcare Spending

To compare different health insurance policies, you have to first make assumptions about your future healthcare needs, as shown in Figure 11.1. If you have not had a major illness recently, the best way to do this is to look at what you spent on medical care last year. After you have prepared this list, think carefully about the health of each family member and estimate what you might spend next year.

Questions to Ask Yourself	This Year's Spending	Next Year's Spending
PharmacyHow many prescriptions filled? Total dollars spent? What will be different versus last year?	$	$
Doctor VisitsHow many visits? Total dollars spent? What will be different versus last year?	$	$
Therapists (Physical/Emotional)How many visits? Total dollars spent? What will be different versus last ...