Anyone Else Worried About Health Premiums Going UP?

[angierae]

Right now my employer is paying 100% of my insurance premiums but we pay almost $700/month to add my husband to my plan (my employer is subsidizing $200/month of it as a bonus to me). We are hoping we can find something on the exchanges for my husband that is cheaper because previously, his preexisting conditions kept him from private plans. My workplace has less than 50 employees but my boss has been paying 100% of my premiums since he got cancer four years ago and our rates skyrocketed.

 

[mhsjax]

You mean there are companies that don't have that requirement? Covering a dependent who has an insurance eligible job has been a firing offense at my DH's employer for many years. Periodically, they do audits.

Really? I know lots of people that don't take the insurance coverage because their spouses coverage is better, myself included back in the day when I worked, and will be again when I go back in a year or so.

 

[DisneyMomJen]

Ours went from $800 to $1300 a month after Obamacare was announced two years ago. Last year they added a $5000 deductible. I cannot see how it can get worse but I guess I have to expect anything at this point.

 

[Colleen27]

Not really worried about it, our health coverage options can't really get worse. My husband is a welder, but his company hasn't offered health insurance in years now. Where I work I'm labeled "part time" despite working 40 hours per week and thus can't get health insurance.

The cheapest coverage we could find independently was $700 for the two of us and we're in our 30's without pre-existing conditions. So, we simply do not have health insurance at the moment.

I'm in about the same place. The last time my husband worked a job with employee-subsidized benefits was 2005. His last job offered benefits but at nearly as high a cost as we were paying on our own, still over $600/mo for a family plan. Around here, unless you're union or white-collar your job probably doesn't offer insurance or offers it but at a huge percentage of your total pay (my ex, for example, was supposed to provide health insurance for DS... but the premiums are about 40% of his pre-tax income so the judge has again suspended that requirement).

For the last couple years been paying about 15% of our household income on insurance premiums and we'd have to spend another 10% OOP before the insurance pays one thin dime on our behalf (which has never happened; we're young and healthy and seldom have need to go to the doctor)... and that's not counting dental or optical. Last year when DH was laid off we realized we just can't do it any more so we've been without insurance this year. The exchange and subsidy should help us greatly - the estimate I've seen based on our circumstances will run us around 6% of our annual income and offer more coverage than we've ever had.

 

[Colleen27]

Our premium did not change much but our deductible went up by $6000 for the family. Not sure who is getting the "affordable" health care.. This law has been a complete financial disaster for everyone I know.

For those of us down here in average-income land it certainly looks like it will make health insurance much, much more affordable. But I think the phased-in implementation was a mistake from the start, and I suspect a lot of what we're seeing with the big price hikes and coverage cuts right now are the insurance companies grabbing every last dime they can before the profit-limiting provisions of the act take effect.

 

[nunzia]

You all sound lucky to me! DH & I are on Medicare - about $300-350 a month for each of us = $600-$700 a month. That pays premiums for (1)Medicare (which pays little of our medical costs, but we must pay for in order to have the priviledge of getting & paying for the Medicare Supplement!), for (2)Medicare Supplement (which pays for what Medicare doesn't cover), & for (3)Medicare RX Coverage (results in a lot of out-of-our-pockets for our RXs, but also helps by paying some).

Dental & Eye care not included & not available, except DH's glaucoma visits. DH just paid $1500 for a tooth crown, & I paid the same at the first of the year!

DH's glaucoma RXs, out of our pocket, are about $300 month, but at least the meds keep him from going blind!

We easily total $15,000 to $18,000 per year in premiums, RXs, & medical costs.

We did not retire wealthy. DH had an average paying blue collar job. I retired from a Federal Government job. Average wages, which we no longer have, of course.

At least you folks have wages.

Enjoy your low cost health insurance before you have to switch to the "luxury" of Medicare!

...and at least you have a pension...

the thing people are not talking about here is coverage. These exchanges will basically, if I'm understanding it at all, be kind of like Medicaid, where doctors will get super low pay for their services. Many do not want and cannot afford to have many patients that pay so low..if these exchanges bump millions into the low payout camp then millions may not be able to find providers to have health care. That's where this will all crumble. The mess my DH went through before he could start treatment was a nightmare before Obamacare was fully implemented was amazing, I can't imagine how much of a mess it will be come January and future years. Not to mention the costs to the goverment are absolutely staggering..and there is no where for that money to come from. Deck of cards..

 

[mom2my3kids]

We are pretty lucky so far my hubbys job pays the premium 100 percent..My job is cutting everyone below 28 hours so they dont have to pay anything... So all servers who were full time have to get a part time job, he said all food industry is going to do this..

 

[crisi]

...and at least you have a pension...

the thing people are not talking about here is coverage. These exchanges will basically, if I'm understanding it at all, be kind of like Medicaid, where doctors will get super low pay for their services. Many do not want and cannot afford to have many patients that pay so low..if these exchanges bump millions into the low payout camp then millions may not be able to find providers to have health care. That's where this will all crumble. The mess my DH went through before he could start treatment was a nightmare before Obamacare was fully implemented was amazing, I can't imagine how much of a mess it will be come January and future years. Not to mention the costs to the goverment are absolutely staggering..and there is no where for that money to come from. Deck of cards..

Insurance companies have negotiated rates for years. Sometimes the medicare rate is higher than what Blue Cross will pay for the same service. There are a number of services in my sister's hospital (she is a hospital administrator) where they do not get reimbursed enough from the insurance company - whether that insurance "company" is the government or if its a private company - to pay for the service.

Her hospital is a small rural facility with a clinic attached - they get subsidies from the federal and state governments to keep from going under because you need hospitals in rural areas.

I used to work for one of the insurance companies - United Health Group - staggering overhead - there is no efficiency in insurance. They wouldn't pay my sister's hospital enough to keep it operational without your tax dollars helping, they would nickle and dime their policy holders on coverage, but they'd sure be willing to change a gazillion dollars for insurance and turn over record year over year profits.

 

[Colleen27]

...and at least you have a pension...

the thing people are not talking about here is coverage. These exchanges will basically, if I'm understanding it at all, be kind of like Medicaid, where doctors will get super low pay for their services. Many do not want and cannot afford to have many patients that pay so low..if these exchanges bump millions into the low payout camp then millions may not be able to find providers to have health care. That's where this will all crumble. The mess my DH went through before he could start treatment was a nightmare before Obamacare was fully implemented was amazing, I can't imagine how much of a mess it will be come January and future years. Not to mention the costs to the goverment are absolutely staggering..and there is no where for that money to come from. Deck of cards..

You aren't understanding it. The exchange essentially functions as a means of giving individuals access to group-type pricing. The plans are offered by insurance companies and the reimbursement rates will bet set by those companies. The only government involvement is in the subsidies which are paid based on private insurer premiums - it isn't medicaid, though there is an expansion of that in the works in some states to address the very low income, and the government isn't directly involved in setting prices.

I think that's what bothers me the most about the whole discussion on this issue - not the disagreement, there's plenty of room for that, but rather the poor understanding all around. Even the name... Asking people about "Obamacare" evokes an entirely different reaction than asking about the Affordable Care Act (seriously, a 20 point difference in approval figures according to some polls ), and many of the people strongly opposed to it don't understand what it will do. Our media and so-called leadership has been more interested in sowing conflict and currying favor with their viewers/supporters than in informing anyone, and as a consequence much of the debate centers around half-truths and misconceptions.

 

[Colleen27]

I used to work for one of the insurance companies - United Health Group - staggering overhead - there is no efficiency in insurance. They wouldn't pay my sister's hospital enough to keep it operational without your tax dollars helping, they would nickle and dime their policy holders on coverage, but they'd sure be willing to change a gazillion dollars for insurance and turn over record year over year profits.

And that right there is my main criticism of Obamacare - it did nothing to resolve those inefficiencies. I understand the political expediency of that... without the nod from the insurance lobby it never could have become law in the first place... but it fails to attain any significant cost-containment. It will rein in some of the abusive tactics insurers have used to boost profits, which is a good first step, but all those inefficient billing and coding complexities remain unchanged.

 

[scard192]

I am kind of nervous that everyone in my company will be forced into a High Deductible plan which I have to admit I don't know much about.

My company has a wellness program and if you participate and meet certain levels, you can keep your part of the premium the same as last year and a higher level, they give us back the amount of what the increase would have been in each pay check. Expecting an even bigger shift coming January 1st.

 

[crisi]

I am kind of nervous that everyone in my company will be forced into a High Deductible plan which I have to admit I don't know much about.

My company has a wellness program and if you participate and meet certain levels, you can keep your part of the premium the same as last year and a higher level, they give us back the amount of what the increase would have been in each pay check. Expecting an even bigger shift coming January 1st.

I love my high deductible plan. We spend only a little more than we used to - we used to just have premiums and copays - now we have premiums and money going into the savings account (which copays come out of), but after three years we have thousands of dollars in our health savings account. Enough to cover our family maximum for a year easily. That HSA moves with us and is our money. If we need it now because we get injured or ill, that is what its for. If we don't, it will help cover supplemental insurance when we retire, leaving a larger retirement nest egg for travel. And the HSA has a tax break associated with it. We come out way ahead with the high deductible plan.

 

[dansamy]

I love my high deductible plan. We spend only a little more than we used to - we used to just have premiums and copays - now we have premiums and money going into the savings account (which copays come out of), but after three years we have thousands of dollars in our health savings account. Enough to cover our family maximum for a year easily. That HSA moves with us and is our money. If we need it now because we get injured or ill, that is what its for. If we don't, it will help cover supplemental insurance when we retire, leaving a larger retirement nest egg for travel. And the HSA has a tax break associated with it. We come out way ahead with the high deductible plan.

Because you're healthy. My dh takes multiple maintenance medications. They would eat through our HSA limit every year.

 

[ceemys]

I'm curious to find out what is happening with ours. We already have an HSA and it is more like a major medical plan. We get a 'discount' at the dr's and it equals about 5%. I have to pay 100% our of pocket until we reach our annual deductible of $3750. So I'm not sure how much worse it can get. Now I have gone to essential oils and in the past years I have only taken the kids for their annual appointments. We treat everything at home. I even got rid of my daughters $200 a month allergy bill with using my oils.

I wish I could just bank my monthly premium fees.

 

[Judyat]

I would just like to add to those who have healthcare coverage check the exchanges starting October 1. Compare your coverage to the plans on it especially if you qualify for a subsidy. It sounds like many are paying way more than necessary and the state exchanges will be a welcome eye opener for affordable healthcare.

 

[Jennabeth]

I love my high deductible plan. We spend only a little more than we used to - we used to just have premiums and copays - now we have premiums and money going into the savings account (which copays come out of), but after three years we have thousands of dollars in our health savings account. Enough to cover our family maximum for a year easily. That HSA moves with us and is our money. If we need it now because we get injured or ill, that is what its for. If we don't, it will help cover supplemental insurance when we retire, leaving a larger retirement nest egg for travel. And the HSA has a tax break associated with it. We come out way ahead with the high deductible plan.

Add me to the list who loves my high deductible plan. Currently we have enough to cover our deductible for 3 years (if we stopped contributing). I love watching that account grow and the security that it brings. It's great knowing that if we experience a horrible health year, everything is covered with that account. It has also made me an informed "health" shopper because I have to pay those bills myself. I see what things cost and try to get the best deal.

 

[dansamy]

I would just like to add to those who have healthcare coverage check the exchanges starting October 1. Compare your coverage to the plans on it especially if you qualify for a subsidy. It sounds like many are paying way more than necessary and the state exchanges will be a welcome eye opener for affordable healthcare.

Judy, you are NOT eligible for the subsidies, regardless of your income, if you are eligible for your employer group health coverage. So, even if your employer group is VERY expensive, like the pp whose ex has a plan that costs him 40% of his gross income, if you are eligible to participate in that, you are NOT eligible for the subsidies.

Edit: After some additional investigation, you may be eligible for subsidies if your employer group health coverage doesn't meet certain requirements of included coverage & affordability.

Each family needs to investigate for themselves what they are eligible for, what's affordable & what provides coverages that they need for their present health state.

 

[aprilchem]

So far I've been really happy with the effects of the MHA act; we've had 3 years in a row of no premium increases (our premiums actually went down for 2014). Plus I'm spending less OOP for healthcare now that there are no copays for wellness visits (I have three small children who pretty much only need to see a doctor for yearly checkups). In addition, I have a chronic condition that I need to take birth control to help maintain, and that bc went from $80 a month to $0 a month. In total I think I'm saving over $1000 a year over what I used to spend.

Plus, I'm one of those who would have been labeled "pre-existing condition" should I ever lose my job or become self-employed and have to seek healthcare coverage independently. I'm glad I can't be denied healthcare coverage because of that. My father had scleroderma and was denied health insurance for two years before he became eligible for medicare, and those two years without treatment were devastating.

 

[mhfrau]

I would just like to add to those who have healthcare coverage check the exchanges starting October 1. Compare your coverage to the plans on it especially if you qualify for a subsidy. It sounds like many are paying way more than necessary and the state exchanges will be a welcome eye opener for affordable healthcare.

Every time you post, I can't help but to laugh. As you are retired with healthcare benefits, and I'm not really sure that you understand the concept that even if your employer does NOT meet the minimum standards, if you have to go the the state exchanges, you will be paying with AFTER TAX dollars.

If you fall in the "just over 400% of poverty line group" that qualifies for the federal subsidies, but aren't pulling in a fairly significant income, you are going to be hugely penalized between the the increased income tax you will pay, AND the large premiums.

It is not a "one-size fit's all" deal with the majority of Americans, and that is why it is a big fail. In our particular situation, my husband's employer is raising the premiums from $632 a month to $879. And for that we get a high deductible plan with 100% copays on all services and prescrips till we hit a family deductible of 12 grand. He's at management level in a very large, well known national service company.

Either way, we technically have insurance, that never kicks in and we don't use because after paying for it, we don't have the money to go to the doctor

Judycat, come on, share with us, were you one of the 9 million people that wrote the bits and parts of the bill?

 

[aprilchem]

If this is actually true then you need to check into an HSA. I have never, ever heard of a family deductible of $12,000. Your husband's company has made very poor decisions regarding health insurance - I work for a small nonprofit with a large percentage of older employees and our health insurance is 100x better than that!