Francis said by following recommendations in the guidebook, a fed can save as much as $1-2,000 a year in health care costs.
FEHP premiums will rise on average of 7 percent in 2011. Francis said overall plans are getting better and this year there are only “minor adjustments.”
High-deductible plans A high-deductible plan allows you to open a health care savings account, which may be $2-3,000 in the bank, Francis said. The deductible for this plan is $5,000 for self-only and $10,000 for family. Once you reach the deductible, the regular plan kicks in, Francis said.
“If you do nothing but have an annual physical, which is free, you’ll wind up the year with a couple thousand dollars,” Francis said.
Money left in the savings account can also fund long-term care, Francis said.
Enrollment in these high-deductible plans has more than doubled in recent years. Two years ago, there were 35,000 enrollees; last spring there were 75,000, Francis said.
The high-deductible plans are best suited for nearly everyone.
“I find them highest rated in every group we cover, even, for example, retirees with Medicare,” Francis said. He added that the only group that would not benefit from a high-deductible plan is someone with “high, predictable, steady expenses every year.”
Is Medicare Part B right for you? The advantage of enrolling in Part B is that you can go out of network and you will be covered for 100 percent of your medical and hospital costs. Medicare will pay 80 percent of health costs and your health plan covers the remaining 20 percent.