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Health Plan Comparison Calculator

2 min read • December 05, 2018
30 sec brief

This year, like every year, It’s hard to find the right tools to compare health plan costs and coverage during open enrollment. This often leaves many Americans underinsured or without the right coverage for their needs. Market Factors That Make This Worse Healthcare costs are getting harder and harder to calculate. Co-pays, out-of-pocket expenses, and...

This year, like every year, It’s hard to find the right tools to compare health plan costs and coverage during open enrollment.

This often leaves many Americans underinsured or without the right coverage for their needs.

Market Factors That Make This Worse

  1. Healthcare costs are getting harder and harder to calculate. Co-pays, out-of-pocket expenses, and monthly premiums are just the start. There is more coverage and expense complexity each year.
  2. Healthcare plans are changing – what might have been considered a “PPO” 10 years ago looks very different from a “PPO” today. Consumers need to be vigilant of these year to year changes and the new financial exposure they can create.
  3. More and more employees are switching healthcare plans from traditional plans like PPOs and HMOs to HDHPs. This is driven by employers benefits offerings, in fact 9 out of 10 employers will offer an HDHP in 2019.
  4. Exact costs comparisons of healthcare plans are hard to find. When if comes time for healthcare selection, individualized cost comparisons (with predictive costs analysis), are required to get the full health plan cost projections.

We recognized this and have a clear and simple solution. Read on!

Health Plan Comparison Calculator

Lively’s health plan comparison calculator lets you project your estimated healthcare costs for two different plans. We will help you pick the plan that is most economical for you and works better with your expected health usage. To use this calculator, you’ll enter the plan expenses, medical service copays, and coinsurance of two different plans. You can compare HDHPs, PPOs and HMOs health plans.

You will need to add detailed health plan details like monthly premiums, annual deductibles, and out-of-pocket maximums to get a dollar to dollar comparison of your health plan options. We will also help you select and predict out-of-pocket health costs for the year. You can download the results via a PDF.

You can get started here.

Health Plan Comparison Calculator: How it Works

Step 1: Create your Health Insurance Profile

Health Plan Details

Step 2: Enter Your Health Plan Details (Option 1)

Health Plan #1

 

Step 3: Enter Your Health Plan Details (Option 2)

Health Plan #2

 

Step 4: Compare the Results

Health Plan Comparison Results

You can edit any expense details and/or download your free PDF health plan comparison. It’s that easy!

Need More Help? We have all of the on-demand resources you need to find the right health insurance plan.

Health Insurance Comparision Guide

Get a free HSA

Things like your flexibility in contributing, the ability to keep your unused balance and additional tax benefits make HSAs the wisest choice. So sign up for an HSA – it’s free →

Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.

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