I’m currently job hunting and am finding it very difficult to figure out how to negotiate a salary without knowing what my monthly healthcare costs will be. I received an offer and contacted the health insurance company so that I could determine the costs of my medical devices and prescriptions, but they couldn’t give me any information and told me that I would need to work through the company’s HR. That’s a somewhat awkward scenario then since I now need to divulge to a prospective employer my lists of meds. How have others handled this?
Hi Danielle @dkess1227 I can understand the position you find yourself in even though I’ve never been in quite your position. When I’ve taken a new position, I ask if there is a medical insurance plan and how much per month my payment will be; that is it. Now with really fussy formularies things may have changed.
You apparently know the insurance company who is fronting for the company you are choosing to be your employer [many large companies “self insure” and employ an insurance company to front for them]. I suspect that if the insurance company is respectable and well known that you will be OK - that is unless your drug needs are all high-tier. The HR people where you are interviewing should be able to provide you with a copy of the coverage booklet it gives employees every year that includes co-pays and deductibles.
I hope others will add more here. In the “Resources TAB” at the top of this page there is an insurance guide - also look on the main JDRF.org site and the American Diabetes Association site for suggestions.
@dkess1227 Hi Danielle, the way I do it is to pretend I am paying my own health insurance (monthly) and I will therefore know what my co-pay or co-insurance would be for my monthly expenses. This is independent of the company offer.
If you can afford your healthcare on your own, then you can afford it with your employer, because it can’t be worse. (you can always pay your own way).
Always negotiate for the highest salary possible for your skill set in the region you are working in. plus ditto everything @Dennis said. good luck.,
Hi Danielle, Most insurance companies will not discuss specific plans until you are enrolled, so you should go through HR. You can ask them for an SPD, summary plan description. This should tell you copays for visits, prescriptions, durable medical equipment, etc. If you need specifics, you can then check the insurance website to make an educated guess. Like before I was enrolled with UHC, I went onto the site to estimate my copays for RX’s after I hit my deductible, so I’d know how to fund my HSA. I’m an HR Manager and T1D, so please feel free to send em any other questions!