CHO Healthcare vs. Traditional Insurance
Example 1: A 32 year old woman is paying $350 each month in health insurance premiums, and has a $4,000 deductible. She went to her primary care doctor 3 times last year - once for her annual physical and twice for upper respiratory infections.
She spent $4,200 on health insurance premiums last year and received no benefit from having insurance. Since her deductible is $4,000, she will spend $8,200 before she receives any benefit from her health insurance.
She could have spent $99/month on our CHO individual plan and saved $3,012 last year in health insurance premiums. All of her office visits including her annual physical would have been free, and there is no deductible.
Example 2: A married couple in their mid 30's with a 12 year old son are paying $750 each month in health insurance premiums and have a $7,000 family deductible. Last year this family spent $9,000 on health insurance premiums. The wife had one doctor's visit for her annual physical exam. The husband had a severe sprain to his ankle during a softball game, which resulted in a visit to the ER. Their son required three visits to his family medicine doctor for newly diagnosed asthma.
This family received no benefit from their insurance last year, because they did not ever meet their deductible despite paying thousands of dollars for their medical care.
This family could have spent $245/month on our CHO family plan and saved $6,060 last year in health insurance premiums. Also, all of the families office visits would have been free, and the husband could have skipped the ER and gone straight to see his orthopedic surgeon, which would have also been free.
Also, if they wanted extra protection they could have added a high deductible insurance policy that was HSA compatible, which means they could have opened a Health Savings Account. They could have put pre-tax money into their Health Savings Account and paid all of their $245 CHO monthly costs directly out of this HSA. This would still be cheaper than traditional insurance and allow them to build up pre-tax savings towards healthcare expenses.
The examples above are theoretical only and based off information from several insurance websites. Cost savings will vary depending on your current insurance plan and medical needs.
She spent $4,200 on health insurance premiums last year and received no benefit from having insurance. Since her deductible is $4,000, she will spend $8,200 before she receives any benefit from her health insurance.
She could have spent $99/month on our CHO individual plan and saved $3,012 last year in health insurance premiums. All of her office visits including her annual physical would have been free, and there is no deductible.
Example 2: A married couple in their mid 30's with a 12 year old son are paying $750 each month in health insurance premiums and have a $7,000 family deductible. Last year this family spent $9,000 on health insurance premiums. The wife had one doctor's visit for her annual physical exam. The husband had a severe sprain to his ankle during a softball game, which resulted in a visit to the ER. Their son required three visits to his family medicine doctor for newly diagnosed asthma.
This family received no benefit from their insurance last year, because they did not ever meet their deductible despite paying thousands of dollars for their medical care.
This family could have spent $245/month on our CHO family plan and saved $6,060 last year in health insurance premiums. Also, all of the families office visits would have been free, and the husband could have skipped the ER and gone straight to see his orthopedic surgeon, which would have also been free.
Also, if they wanted extra protection they could have added a high deductible insurance policy that was HSA compatible, which means they could have opened a Health Savings Account. They could have put pre-tax money into their Health Savings Account and paid all of their $245 CHO monthly costs directly out of this HSA. This would still be cheaper than traditional insurance and allow them to build up pre-tax savings towards healthcare expenses.
The examples above are theoretical only and based off information from several insurance websites. Cost savings will vary depending on your current insurance plan and medical needs.