Thursday, March 01, 2012

How Much Is My Health Worth?

Suddenly becoming unemployed means several things. One of the more important things that is happening is an end to health care benefits through my employer.  Since I'm dealing with multiple health problems and taking about 12 different medications to keep stuff under control, I am of the opinion that health care coverage is rather important. 

I'm currently receiving retirement benefits from two different past employers, neither one is very large. Definitely not enough to live on even when combined...which is one of two reasons I was still working up until last Thursday.  The other reason was that health care coverage was available through my employer. They offered a piss-poor major medical plan ($25,000 deductible!?!), but it did include prescriptions at a reasonable discount.

I mentioned in an earlier post that I had contacted one of my retirement benefit providers about health care coverage and expected the cost to be more than what I was receiving from them.  Imagine my dismay when I discovered that my coverage will cost everything I receive under BOTH retirement an additional $700 per month!

Granted, it's a good plan ($1500 deductible versus $25,000) and comparable prescription discounts...but the cost is totally outrageous.  I'm pretty sure my prescription costs and regular doctor visits would be much less than the cost of the coverage. My main worry would be if I were to get really sick or injured and require hospitalization or some sort of surgery.  In addition, if I wait too long to seek new coverage, I loose "pre-existing condition" coverage.

I'm not sure what I'm going to do at this point, I think a lot will depend on what the folks at ODJFS determine in the way of unemployment benefits.

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