Oh yeah. This one blows my mind. Even with the pay cut I’m taking to go to my new place I’ll be netting close to the same I’m making now – BUT with one huge difference: much, much better insurance. Here’s the comparison on the insurance:
Current – per person deductible is $3000, although it is $1000 if we take copies of the bills and submit them to third party servicer… which many people at my current company don’t know about…
Future (as of the first of Feb) – per person deductible is $250, with a total family max of $750 and a total ANNUAL out of pocket maximum of $3250.
My “future” insurance pays at an 85%/15% split and treats mental health care just like medical care, which means office visits are $20.
Beyond this however, is the premium comparison… Medical/Dental/Vision at my current company is just under $400 per month. Medical/Dental/Vision at my future place – right about $175. I’ll be contributing to the fixed pension plan at about $125 per month – which means for the same $$ I’m getting all our medical/dental/vision benefits PLUS retirement that I don’t currently have.
This is not meant as a slam on my current employer, as I know they’re paying a ton for our employee coverage. What it is, however, is a comment on a big “why” I’m going back to the university. I have to provide insurance for my family. Todd doesn’t even have the option through his company. I have a pathology bill sitting on the desk, even as I write this, and it’s more than we can swing unless I get really creative. It sure isn’t covered under my monthly budget because we simply don’t have the ability to cover that kind of expense. I expect we’ll have these every 6 months or so with Todd’s skin situation.
It goes beyond the issue of the insurance though. I realized, by paying close attention yesterday when I gave my more than three weeks notice – NOTHING was going to change income-wise.
So I assess where the decision and it is reinforced. I’m a mom. I take care of my family and they come first. I plan to do an outstanding job for my new team and take good care of them.
No regrets. I learned and I made some discoveries about myself (and the world of employment) along the way. I’m never going to shake up the world… but I can take good care of my guys.