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Health Insurance Selector Calculator
This calculator is designed to help you quickly determine the right high deductible health insurance plan for you and your family. To complete the calculator, use your insurance agent or healthcare.gov to find three plan options in each of the metallic bands (Bronze, Silver, and Gold) and use the plan information to complete the inputs. Since medical expenses are an uncertainty, this calculator provides you with the ability to compare health care expenses for three different monthly cost bands to evaluate your personal risk. If you are debating between an HDHP policy and a policy with a copayment arrangement, see the article, “
How To Determine If Switching To A High Deductible Health Plan (HDHP) Is Right For You
."
Input Variables:
Results:
Plan Classes:
Expense Calculator:
Bronze Monthly Premium:
Bronze
Silver
Gold
Silver Monthly Premium:
Before-Tax Premium
-
-
-
Gold Monthly Premium:
Less: Tax Savings
-
-
-
After Tax Premium
-
-
-
Expected Monthly Medical Expenses:
Low Expense Band
Per Month in Medical Expenses
Mid Expense Band
Deductible
-
-
-
High Expense Band
Expenses
-
-
-
Lesser of Deductible or Expenses
-
-
-
Tax Bracket:
Plus: Coinsurance
-
-
-
Federal Top Marginal
Plus: After-Tax Premium
-
-
-
State Top Marginal
Equals: Out-of-Pocket Cost
1
-
-
-
Deductibles:
Per Month in Medical Expenses
Bronze Deductible
Deductible
-
-
-
Silver Deductible
Expenses
-
-
-
Gold Deductible
Lesser of Deductible or Expenses
-
-
-
Plus: Coinsurance
-
-
-
Coinsurance:
Plus: After-Tax Premium
-
-
-
Bronze Coinsurance
Equals: Out-of-Pocket Cost
1
-
-
-
Silver Coinsurance
Gold Coinsurance
Per Month in Medical Expenses
Deductible
-
-
-
Out-of-Pocket Maximums:
Expenses
-
-
-
Bronze Out-of-Pocket Max
Lesser of Deductible or Expenses
-
-
-
Silver Out-of-Pocket Max
Plus: Coinsurance
-
-
-
Gold Out-of-Pocket Max
Plus: After-Tax Premium
-
-
-
Equals: Out-of-Pocket Cost
1
-
-
-
1
Out-of-pocket cost is the premiums plus the lesser of 1) the deductible plus coinsurance or 2) the out-of-pocket maximum.