oxford health plansJust a few hours ago, I made the final decision for our company to switch from GHI to Oxford for our health insurance benefits. Why did we switch, well – this time Oxford had better prices and since Oxford has a larger network than GHI in this area, it was a no brainer.

But this time, we decided to offer our employees two options for health benefits. It gives more flexibility, and can save them money. We no longer cover 100% for our employees, effective December 1.

What was very interesting to me was that all the single males selected the cheapest possible insurance product available to them. Their rational? “I never see doctors” and different flavors of that. While all families selected the most expensive plan available.

If I wasn’t married, I also would likely choose the cheapest plan. But now, I clearly don’t make all the decisions. But when you start having to worry about others and not just yourself, clearly you want to have the best available coverage for those who depend on you – no matter cost. So that is what most selected.

Every year I go through this process and every year I learn a thing or two.

Website Comments

  1. Michael D
    Reply

    If you are single and “don’t go to doctors” insurance can be a major waste. Contrary to what many may think, I almost always recommend the best crisis plan you can get for the lowest cost, with the highest deductible you can afford. If there is an emergency, your covered (hopefully). For regular day to day health expenses (nutrition, vitamins, exercise, dealing with colds, chiropractic, yoga, massage) you can almost always find affordable alternatives to paying for services under insurance.

    Think of it like running your own PPC campaign rather then letting the yellow pages manage your PPC efforts. Why pay the middle man when you can save significantly and get the same (or better) services?

    As you mentioned, different rules apply for families.

  2. Jarrod Sports
    Reply

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