Comprehensive Guide
Learn more in our Insurance Guide.
How it works
health insurance plan comparison takes your inputs and produces plan a total annual cost, plan b total annual cost, better plan, medical spend breakeven. Compare health insurance plans: premiums, deductibles, out-of-pocket max, and total annual cost. You provide 7 inputs: Plan A Monthly Premium (currency, in dollars) (default: 450 dollars); Plan A Deductible (currency, in dollars) (default: 2000 dollars); Plan A Out-of-Pocket Max (currency, in dollars) (default: 8000 dollars); Plan B Monthly Premium (currency, in dollars) (default: 650 dollars); Plan B Deductible (currency, in dollars) (default: 500 dollars); Plan B Out-of-Pocket Max (currency, in dollars) (default: 4000 dollars); Expected Annual Medical Costs (currency, in dollars) (default: 3000 dollars). The calculator returns 4 outputs: Plan A Total Annual Cost (a secondary output); Plan B Total Annual Cost (a secondary output); Better Plan (a secondary output); Medical Spend Breakeven (the primary result). Insurance is the mathematics of rare but catastrophic events. The right coverage amount depends on your assets, income, dependents, and risk tolerance — not on rules of thumb. This tool computes the actual figures so you can compare premiums against the expected value of protection. With the default values, medical spend breakeven is computed from the interaction of every input field — change any one of them and the result updates immediately, so you can stress-test different scenarios without re-entering the whole form. Adjust the inputs to match your real financial situation. The defaults are realistic starting points, but every person's circumstances differ — your actual income, expenses, rates, and timelines will produce a different answer. Use the tool iteratively: start with the defaults, then change one variable at a time to see which factor has the largest impact on your outcome.Tips
- Start with the default values to see a baseline result, then change one input at a time to understand which factor matters most for your outcome.
- Replace every default with your actual number — estimates and rules of thumb produce estimates, not answers. Pull your real figures from pay stubs, statements, or account dashboards.
- Insure against catastrophic losses, not minor ones. The right deductible is the highest amount you could cover from savings without financial distress.
Frequently asked questions
Which plan is better?
Low medical use: low-premium/high-deductible. High medical use: high-premium/low-deductible.
What does the health insurance plan comparison calculate?
It takes plan a monthly premium, plan a deductible, plan a out-of-pocket max, plan b monthly premium, plan b deductible, plan b out-of-pocket max, expected annual medical costs as inputs and computes plan a total annual cost, plan b total annual cost, better plan, medical spend breakeven. The primary output is medical spend breakeven. Compare health insurance plans: premiums, deductibles, out-of-pocket max, and total annual cost.
How accurate are the calculator results?
The math is exact — the same formulas a financial professional would use by hand. The precision of the output depends entirely on how realistic your inputs are. Use your actual numbers rather than estimates when possible. The defaults are reasonable starting points, but your real income, rates, and timeline will produce a different result.