Microsoft Health Insurance Cost for Budget?
I'm an upcoming new grad who should be receiving an offer for Redmond soon. I starting new from living with my parents and had a question about health insurance. Here's what Microsoft site says, Medical, dental, and vision care: "Enjoy the comfort of industry-leading health care coverage for you and your family, with no monthly paycheck deductions." I'm budgeting out my salary and expenses and stuff. Can I just completely ignore health insurance? If you're working at Microsoft, did you have any health insurance expenses what so ever? Including everything (yearly checkups, dentist appointments, etc.). Are the on-campus doctors' checkups free or just subsidized? Thanks! #microsoft #newgrad #healthinsurance
Look up any terms you don’t understand. Microsoft pays all premiums. There’s 3 plans you can choose - a high deductible PPO, a no deductible HMO, and a hybrid. I don’t know much details of the HMO and even less of the hybrid, so I won’t go deep into those. I also only know the individual limits, family amounts are roughly double. The PPO plan has a $1500 deductible with 10% coinsurance with $2500 out of pocket maximum. Microsoft gives you $1000 (iirc) towards your HSA. HMO plan has no deductible, but it has copays and coinsurance(?). Not HSA eligible, but is FSA eligible. Dental has 2 free cleanings a year. Other work is covered at 85%, with $25 deductible. Orthodontics have a lifetime maximum of $2500 (iirc). Vision has a free exam each year plus $350 towards hardware.
Most of the insurance is covered and paid by Microsoft. In Redmond they have better plans that for the rest of the county. Depending on the plan you choose, they will deposit the deductiable in a HSA account and that's your money to keep. Don't worry about Health Insurance, they have got the best plans.