United Healthcare vs. BCBS in NJ

Chayalle

Mon, Oct 20 2014, 3:22 pm

In an effort to cut costs and my benefits, my employer is once again changing the insurance plans they are offering. For 2015, I can choose between Aetna (which I now have - but at more than double the price), United Healthcare, or Carefirst BCBS.

Anyone have any experience with United Healthcare or BCBS in NJ? They would cost me ALOT less than Aetna, and I'm likely to have to choose one of them (Aetna cost is CRAZY).

Thanks in advance.

Scrabble123

Mon, Oct 20 2014, 4:14 pm

BCBS has different names depending on their location:
Empire BCBS in NY
Anthem BCBS in CA
Carefirst BCBS in Maryland

I would first find out if your doctors consider carefirst as "in network." You can essentially bill BCBS to any network, but your costs are higher if Carefirst is considered an out of state insurance.

treetop12

Mon, Oct 20 2014, 4:53 pm

I think the most important thing to find out is whether the plans are a PPO, EPO or an HMO. If they are a PPO, I have found BCBS to be the best network, UHC is quite good as well. If they are an EPO or an HMO! I would check with each of your providers, but overall BCBS has a better network in NJ and UHC is better in NY.
HMOs and EPOs typically have many more restrictions and often limit their networks by state.
What network are you on with Aetna? I am currently with them throught their Choice Plus (PPO) network.
I know health insurance is a nightmare in today's world, I am my Company's plan adminstrator and we have a heck of a time at each open enrollment.
Good luck!

mille

Mon, Oct 20 2014, 7:06 pm

I have used both in NJ. If they are cheaper, I would just find out exactly what the plan is and call your doctors to find out if they take the insurance. I recently switched to UHC Choice Plus, and I was able to stay with all the same practices but had to switch to other doctors in the practice in a few cases (I had BCBS before). I'm in North Jersey and I never find it difficult to find a good in-network doctor around here for any specialty.

Also compare deductibles, they might be cheaper but it might end up costing you more in the long run if it's a high deductible plan...

Chayalle

Mon, Oct 20 2014, 9:41 pm

Thanks everyone for your responses.

Over the past few years my benefits at work have shrunk...I used to have a great POS plan at Aetna, but they made that impossibly expensive 2 years ago and moved to a high-deductible with HSA incentives plan. Basically, I've had a $2700 deductible, but my company makes payments to my HSA to offset the costs, provided that I do certain healthy incentives (like well-visits, etc..)

Now they've made Aetna to be really expensive - I guess UHC and BCBS are offering cheaper rates. This is with the same deductible/coinsurance/max costs......the variable is the administrator and network, as well as pharmacy plan. Open enrollment starts Wednesday and we're being given a really short time to make our choices - and we aren't told yet what the plan is, so I can't even check with my doctors yet.

Thanks for the point about CareFirst being in Maryland - I also noticed that and I wonder whether the network will include alot of NJ doctors. I've heard that BCBS is huge, so it might. It's cheaper than UHC and that might be the reason - perhaps the network is smaller, perhaps it will be considered out of state.....

I'm trying to gather as much info as I can so I can be prepared....

amother

Mon, Oct 20 2014, 10:18 pm

If you have a high deductible plan with an HSA try NOT to take any money out of the HSA to pay your bills. Use regular income that is NOT in the HSA if you can.

Why????

HSA money is pretax and is invested in funds you choose. The HSA is tax free growth. You will NOT be taxed on any profit made by your HSA investments nor will you be taxed on the principal when you withdraw.

A Roth IRA is made from post tax income and grows tax free. A regular IRA is pre tax income that grows and is taxed at withdrawal. A 401k is also pre tax income that grows but is taxed at withdrawal. The HSA is not taxed on either side. Pre tax investment and no tax when withdrawn.

Make sure to contribute the maximum legal amount to your HSA. Keep the money in the HSA. Let it grow tax free for as long as possible. Save your end of year medical expense total. If you need money in ten years, you can take out what you spent on medical bills in the past and it won't be taxed and you will have (hopefully) made capital gains that will stay in the HSA and continue to grow tax free. If you don't need the money, it just continues to grow tax free. A great savings vehicle that the government never touches.

Also at a certain age you can make HSA withdrawals without needing to have spent on medical bills. Sort of like a way to help fund your retirement.

Also, the money in your HSA can be passed on as inheritance to your kids and not be taxed either.

Properly using the HSA as a financial savings makes high deductible plans very beneficial.

I am posting as amother only bc I am connected with a big 4 firm and this is the advice given and don't want to be identified by anyone here.