Best way to turn down empoyer’s plan and go with an ACA plan?
I've had both the HDHP high premium PPO my employer offers and don't like either of them. I'm currently on the high premium plan because I knew I wanted to get physical therapy for some injuries I've been struggling with and mental health counseling (after all, we all need it). They both have a $50 copay which doesn't count toward my deductible. That adds up enough that the cost of the premiums and appointments is just too much to justify for physical therapy and psych. Not to mention the overall experience is just terrible, I've wasted so much time on their bs.
I'm interested in going with something else this coming year, at least that way if the plan screws me over I have choice and can get something else the following year until I find what works for me. But as far as I can tell if I reject the money my employer has earmarked for healthcare then they pay it out like regular pay which means I'll be paying taxes on it, greatly diminishing the value I get from it. Is there any way to use that cash to pay for medical premiums and expenses? HSAs require to have your employers HDHP and FSAs have relatively low limit and their own set of problems. I do have some influence in the company so if there's something the company can do to make getting my own healthcare plan easier I can probably push for that.
On a somewhat tangential note I'm also interested in doing this because I belive that lack of choice is one of the big problems with our healthcare system. It's like we have capitalism without a free market (at least for people like me that are stuck with or believe they are stuck with whatever their employer offers). In theory employers can negotiate a good deal but they are not incentivized to do so: you're unlikely to choose a job based on what insurance they provide. I'd like to believe that if everyone was able to choose their plan and providers the insanity would naturally resolve itself because the more egregious ones would go out of business. A bit of monopoly busting (I'm looking at you United Healthcare and co) is also required I'm sure.
submitted by /u/Stedfast_Burrito
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