Posts
8619
Joined
2/3/2010
Location
Lehi, UT
US
Sorry to beat a dead horse on this, I'm just curious what others are dealing with...but I met with my health insurance agent today and got some new info on my health insurance premiums.
1) My premiums are going from just over $800/month to just under $1100/month.
2) I make to much money for any subsidies.
3) My current plan is a $1K deductible, 80/20 coverage, I purchased on my own (not employer provided coverage)
4) My wife and I wanted to go do a high deductible plan to save money on the premiums...we have the cash for the higher deductible, and to pay doctor/hospital visits out of pocket...but want the insurance in case of something major.
Turns out, my current plan is "grandfathered" in to the program...as are my premiums (My exact plan on Obamacare would cost $2000/month). So as expensive as it is, I'm better off now than if I were to purchase this plan today. The problem is that-per the ACA-its not going to be available after next year...so I'm going to have to purchase another plan, and current market premiums.
Based on today's premium rates (on the non-grandfathered in plans), if I were to purchase a plan with a $13,300 deductible (which is the highest deductible available in my market), my premium would be $945/month.
It obviously doesn't make any sense to switch plans...but the thing that sucks is that next year, I'm going to be forced to pay more double what I pay now (almost 150% of what I paid this year) OR pay the same but have SIGNIFICANTLY less coverage.
1) My premiums are going from just over $800/month to just under $1100/month.
2) I make to much money for any subsidies.
3) My current plan is a $1K deductible, 80/20 coverage, I purchased on my own (not employer provided coverage)
4) My wife and I wanted to go do a high deductible plan to save money on the premiums...we have the cash for the higher deductible, and to pay doctor/hospital visits out of pocket...but want the insurance in case of something major.
Turns out, my current plan is "grandfathered" in to the program...as are my premiums (My exact plan on Obamacare would cost $2000/month). So as expensive as it is, I'm better off now than if I were to purchase this plan today. The problem is that-per the ACA-its not going to be available after next year...so I'm going to have to purchase another plan, and current market premiums.
Based on today's premium rates (on the non-grandfathered in plans), if I were to purchase a plan with a $13,300 deductible (which is the highest deductible available in my market), my premium would be $945/month.
It obviously doesn't make any sense to switch plans...but the thing that sucks is that next year, I'm going to be forced to pay more double what I pay now (almost 150% of what I paid this year) OR pay the same but have SIGNIFICANTLY less coverage.
Was told today, my $1,150 a month with Highmark, 1k deductible, which employer pays half, is going up 3%,
so they are just sitting tight with what we have.
They keep cutting benefits every year....here and there. Snip snip snip.
My employer (a huge nationally ranked hospital system) provided me with more coverage when I first started in 2011. Since Obamacare it's tripled. And I get significantly LESS coverage.
$680 a year, to $2600 now. and now I have to enroll in a program to stay healthy otherwise they charge me more. If my 100% emergency gets cut I'm gonna have to stop riding dirtbikes.
Titan sucks that you gotta pay all that premium out of pocket. You're basically buying yourself catastrophe insurance.
Can't wait until the carbon footprint tax gets signed in a loaded bill from Hillary when she's president.
Silver 250 Plan-Medical and Dental
Currently paying $647.76
New premium $698.51
Increase of 7.8%
Do not qualify for any subsidy.
However, there are some coverage differences this year. Slightly higher deductible, Slightly lower out of pocket maximum. Slightly higher ER copay. Slightly higher copay on non-preferred prescriptions.
Here's the actual differences:
The Shop
2017 Premium:
Finally had to give them up now, saving $600 per month by joining my wifes plan adding myself and 2 kids over what BCBS wanted now.
Had tight as can be friends who joined the O plan telling me how much they were saving and they were getting the se jnsurance as me (LOL), they're coming unglued now.
I posted my renewal info to show real numbers, because it's a long way off from the 35-50% that I see people claiming. I have a feeling that there's a fair amount of rounding up of new premiums or down of existing premiums in order to make a situation sound even worse than it is. I don't doubt that there are several folks who will pay 40% more, but I'm skeptical that it's for similar coverage.
The average premium for a Silver plan on exchanges will go up 22% this year, but that's skewed because it doesn't weight by population. The states with the highest increases were among the lowest cost states in 2016, and have a lower number of people purchasing on the exchange, meaning that the highest increases will affect a relatively small number of people.
One guy I know told me that his insurance went up 50% last year. That sounded suspicious. In looking at it, he was actually paying 50% more out of his paycheck, but he didn't factor in his employer contribution. Basically his insurance cost $600 a month in 2015. His employer paid a flat amount of $500 per month for each employee, so the guy had $100 a month to contribute to his policy. In 2016, the total premium increased to $650, but the employer contribution remained the same so the employee portion went up to $150. To him, that meant that insurance premiums rose 50% that year, even though the actual increase was just over 8%.
We're 51 and 46, perhaps you are older?
I don't have the letter telling me what my premium will be at my office...I'll try and remember to grab a picture of it tonight when I home an upload it...but the premium is going to $1000-1100/month. What is that? A 30% increase?
The only people I've talked to that have seen premium increases less than that, have had a change in their coverage (less coverage)...anyone who has kept their coverage the same has seen premium increases in the 30% + range.
Next year, my premium will likely double...because the "grandfather in" aspect of my plan goes away and I have to get a new plan...my same plan, this year, is almost $2K/month...it will probably be more next year. So this year, I'm feeling pretty good about that $1100 premium...as crappy as it is.
Pit Row
I'm surprised they didn't offer you a .0012 % discount, and expect you to gush over it.
I asked about adding my wife, that is $1790 a quarter and $7,000 out of pocket.
My agent tells me that it's a good plan and not let it lapse.
before Obummer care I paid $695 a quarter and $3500 out of pocket
They said you just have to pay it.
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