Risk tolerance
As faculty and staff begin considering decisions about health plan selection ahead of this November’s benefits open enrollment period, another key consideration should be an ability and willingness to take on more financial risk.
Plan participants must choose between the more predictable, but higher, fixed costs of the low-deductible PPO Plan, and the more variable costs of the PPO Savings Plan.
Determining your comfort with either scenario can help you make the best decision for you and your family. Below, “real life” examples of Penn State employees show how comparing health plans can impact the decision process. While the names have been changed, the medical out-of-pocket expenses and premium contributions are from real Penn State employees. Please note that all plan comparisons, plan designs and cost examples reference the 2017 plan details.