Archived Insurance Costs

[TTL]

Hi everyone!

Looking to join the Spot team shortly and am looking to see if anyone has the pricing on the different insurance options they offer to TLs?

Thanks!

 

[Hardlinesmaster]

For HSA:
TM..........$2700(in network deductible)/$5000(out-of-pocket max).....$5400(non-network)/$10,000(o-o-p max)
TM w/kids...............$3500(in net ded)/$6900(out of pocket max)........$7100(non-net ded)/$13,900(o-o-p max)
TM w/spouse or dep...$4700(in net ded)/$8700(o-o-p max).................$9000(non-net ded)/$17,000(o-o-p max)
TM w/family...........$4700(in net ded)/$9300(o-o-p max).....................$9700(non-net ded)/$18,900(o-o-p max)

TM only: If you were in an accident that required ER & hospitalization, you would pay $2700 deductible (can be paid with any HSA acct funds) then 20% of in-network allowed/covered costs until you reach the $5000 out-of-pocket maximum. After that, all covered costs would be paid at 100%.
This plan doesn't utilize copays so you would be billed for any visits/procedures after plan discounts have been applied. Prescriptions are also applied toward the deductible.
From another thread. Thanks redeye58

 

[TTL]

Thanks for the deductible info! How about the cost/check to the employee?

 

[APredux]

Target 2015 Health Care Premiums

Team Member
HRA: $1,121.64 annually ($43.14 biweekly, $21.57 weekly)
HSA: $577.20 annually ($22.20 biweekly, $11.10 weekly)

Team Member + Child(ren)
HRA: $2,547.00 annually ($97.96 biweekly, $48.98 weekly)
HSA: $1,512.12 annually ($58.16 biweekly, $29.08 weekly)

Team Member + Spouse/DP
HRA: $4,141.32 annually ($159.28 biweekly, $79.64 weekly)
HSA: $2,562.00 annually ($98.54 biweekly, $49.27 weekly)

Family
HRA: $4,678.44 annually ($179.94 biweekly, $89.97 weekly)
HSA: $3,044.64 annually ($117.10 biweekly, $58.55 weekly)

 

[TTL]

Thanks for that info @APredux ! What's the difference between HRA and HSA?

 

[Hardlinesmaster]

Thanks for that info @APredux ! What's the difference between HRA and HSA?

You will get an insurance packet explaining everything.

 

[asidius]

HSA (Health Savings Account) is exactly what the name implies. It's a savings account that you can deposit money into for health related expenses. The perk of an HSA is it's not subject to income tax at time of deposit. The money is yours to keep and be withdrawed for any reason (though for non-medical expenses it is subjected to income tax + 20% penalty).

 

[daninnj]

Also don't be afraid to check the Health Insurance Marketplace. I pay around $200 (my friend who has a lower income pays half of that) but I have no in-network deductible (almost everything is in-network) and low copays, plus full dental and vision insurance. Doesn't cost anything or affect anything to apply there and see; if you can right now. It seems like a lot but I think it's worth it for piece of mind.

 

[PassinTime]

For HSA:
TM..........$2700(in network deductible)/$5000(out-of-pocket max).....$5400(non-network)/$10,000(o-o-p max)
TM w/kids...............$3500(in net ded)/$6900(out of pocket max)........$7100(non-net ded)/$13,900(o-o-p max)
TM w/spouse or dep...$4700(in net ded)/$8700(o-o-p max).................$9000(non-net ded)/$17,000(o-o-p max)
TM w/family...........$4700(in net ded)/$9300(o-o-p max).....................$9700(non-net ded)/$18,900(o-o-p max)

TM only: If you were in an accident that required ER & hospitalization, you would pay $2700 deductible (can be paid with any HSA acct funds) then 20% of in-network allowed/covered costs until you reach the $5000 out-of-pocket maximum. After that, all covered costs would be paid at 100%.
This plan doesn't utilize copays so you would be billed for any visits/procedures after plan discounts have been applied. Prescriptions are also applied toward the deductible.
From another thread. Thanks redeye58

Wow, this Is really crappy coverage!

 

[Hardlinesmaster]

Wow, this Is really crappy coverage!

thank@redeye58!
The sad part is, to keep your average hours worked at 30.

 

[commiecorvus]

Wow, this Is really crappy coverage!

Don't think of it as insurance, think of it as the absolute minimum Spot needs to offer in order to comply with the law.

 

[PassinTime]

Don't think of it as insurance, think of it as the absolute minimum Spot needs to offer in order to comply with the law.

Im just really spoiled by my spouse's coverage. That's why I am working at Spot. I had no idea how truly crappy Target's coverage is. If I have coverage 'available' thru an employer, spouse's coverage will bounce me out of the plan.

 

[redeye58]

It's basically catastrophic care; just enough to keep you off the street.
Because we had boys (& all the ER visits that entails), we eventually put enough savings aside to cover the out-of-pocket.
I also had paycheck deductions that went to a MasterCard to cover the deductible.
It was a hard swallow but we did what we could.

 

[Amaazingdude]

Thanks for that info @APredux ! What's the difference between HRA and HSA?

Plain and simple. I could choose hra if you go to the doctor a lot, I would choose hsa if you never go to the doctor.

 

[TTL]

Thanks for all the replies. I'm going through a divorce and I need more specific information. I understand the costs for HRA/HSA, but those are reimbursement accounts/savings accounts and typically associated with an actual insurance plan to assist you in paying for insurance related expenses. Can someone please give me the exact way these work and the costs with them? @redeye58 @commiecorvus @Hardlinesmaster @APredux

 

[mrknownothing]

Thanks for all the replies. I'm going through a divorce and I need more specific information. I understand the costs for HRA/HSA, but those are reimbursement accounts/savings accounts and typically associated with an actual insurance plan to assist you in paying for insurance related expenses. Can someone please give me the exact way these work and the costs with them? @redeye58 @commiecorvus @Hardlinesmaster @APredux

If you work for Target, the HRA or HSA is the insurance. Spot used to offer HMO and PPO plans to non-exempt employees, but those were discontinued a few years ago.

Contact the Target Benefits Center. They should be able to answer your questions.

 

[Hardlinesmaster]

I understand your insurance concerns. But, are you working for spot now?