Health Plan Cost Comparison Calculator
Compare two health insurance plans side-by-side (such as an HDHP with an HSA versus a Gold Copay PPO) based on your anticipated medical care needs.
Plan A (e.g. High Deductible HDHP)
Plan B (e.g. Standard PPO)
Insurance Cost Summary
Plan Total Cost Comparison Model
Plan Total Cost = (Monthly Premium × 12) + Min(Care Need, Deductible) + (Need After Deductible × Coinsurance %) - Employer HSA Contribution- Fixed Annual Premium: The non-negotiable yearly cost to maintain coverage.
- Effective Out-of-Pocket: Deductibles and coinsurance incurred based on care needs.
- HSA Subsidy: Any employer contribution deposited into your Health Savings Account.
Step-by-Step Worked Example
Calculation Steps:
- Plan A: Premiums = $200 × 12 = $2,400. OOP = $3,000 + ($1,000 × 20%) = $3,200. Total = $2,400 + $3,200 - $500 = $5,100.
- Plan B: Premiums = $450 × 12 = $5,400. OOP = $1,000 + ($3,000 × 20%) = $1,600. Total = $5,400 + $1,600 = $7,000.
- Cost Difference = $7,000 - $5,100 = $1,900.
How to Use This Calculator
- 1Enter your estimated annual medical care spending for the upcoming year.
- 2Input the monthly premiums, deductibles, coinsurance, and OOPM limits for Plan A and Plan B.
- 3Include any employer HSA or HRA contribution subsidies.
Assumptions & Limitations
- Assumes all anticipated healthcare services are eligible in-network covered benefits.
- Plan choice should also consider provider network breadth and prescription formulary coverage.
Frequently Asked Questions
When is a High Deductible Health Plan (HDHP) better than a PPO?
HDHPs are typically more economical when you are either very healthy (low care needs save on premiums) or have very high care needs (lower premiums combined with reaching the OOPM cap can cost less overall than a high-premium PPO).
Can I keep my HSA if I switch health insurance plans?
Yes. An HSA is owned by you personally and stays with you permanently, even if you change employers or switch to a non-HDHP plan (though you can only contribute new funds while enrolled in an eligible HDHP).
Related Cost Calculators
Out-of-Pocket Medical Cost Calculator
Calculate your true out-of-pocket medical costs under insurance cost-sharing rules, taking deductibles, coinsurance, copays, and the statutory Out-of-Pocket Maximum into account.
Health Insurance Cost Calculator
Calculate the total annual cost of health insurance, balancing monthly premium costs against out-of-pocket deductibles, copayments, and coinsurance under your expected medical care volume.
HSA Savings Calculator
Project the multi-year compound growth of your Health Savings Account (HSA), factoring in employer contributions, monthly deposits, expected returns, and medical withdrawals.