When choosing a TriNet medical plan, you will want to consider the following factors for yourself and your dependents:
Then, you will need to consider two more factors:
Look at it this way: Electing your medical insurance is very similar to selecting your auto insurance—they work on the same basic principle. When you choose your auto insurance, you choose coverage based on the deductible amount and the level of risk you want to assume in case you have an accident. Some people are more comfortable paying more up-front—that is, in premiums—and knowing they have a lower deductible to meet in case of an accident. Others prefer to pay less in premiums, knowing they will have to pay more when repairs are needed.
Do you prefer... |
|
A plan with lower premiums, which usually results in higher out-of-pocket costs? |
A plan with higher premiums, which usually offers lower out-of-pocket costs? |
When electing a TriNet medical plan, you are making the same decision about the amount you pay and when.
Ultimately, it’s your choice—you pick the TriNet medical plan that offers you the right balance of cost and coverage.
"Cost of coverage" refers to how much you pay out of each paycheck for coverage. This is sometimes called your "premium."
A "deductible" is the amount that you may have to pay out-of pocket when you receive care, before your plan starts to pay benefits. Once you pay your deductible, you will be responsible for coinsurance or copays when you receive care.
Typically, a plan with a higher deductible will have a lower cost of coverage or premium, while a plan with a lower deductible will have a higher cost of coverage or premium.