Anyone Else Worried About Health Premiums Going UP?

[photos_101]

I'm in the "I'm worried" group. We already pay $800 a year and the coverage stinks with high deductibles. We aren't in a great spot financially to handle paying more. We'll find out soon I hope.

Seriously $800 a YEAR? Wow I would love to pay that. Ours is a little over $3000 a year. We do seem to have great coverage but we luckily do not use it hardly at all. And this is from DH employer ins. for a very large company.

He did get a letter advising of changes coming but no word on what those are. Am I worried, yes but I doubt it is any worse than it has been in the past. He gets a COL raise in the fall and our insurance goes up in Jan. Same cycle every year! lol

 

[disney1990]

The rate that we pay did not change - didn't go up and didn't go down. I'm a happy camper.

 

[pryncess527]

This is the first year I can recall that our rates did not go up, and coverage does not appear to have gone down.

 

[Pakey]

I'm responsible for benefits administration/insurance selection/etc at my company (large employer). Our rate increases averaged 20% each of the 4 years prior to ACA. Our current insurance provider has guaranteed that our rates will not be increasing in 2014 even with the extras that now must be added into our current health insurance plan (mental health, drug counseling, etc).

We are still undecided on what we intend to do within the next year when employer requirements go into effect. As an employer, we pay dependent coverage at approximately $8500 per employee per year (this is above the cost for employee coverage) that will most likely be discontinued to help offset the costs of adding hundreds of seasonal employees onto our plan as will be required under the new calculations.

As has been required by law, we have sent out letters to employees but we have not provided specifics because I cannot quanify anything yet. It's been a real mess and I feel for the employees with dependent coverage who have no clue what it costs to insure their families on a group health plan (our total cost for a family medical plan, not including dental/vision, is $23,420 per year for each employee).

 

[summersalt]

I'm currently paying $4680 per year for family coverage. It's a HSA plan with a $6000 deductible and 80% coverage. I'm screwed if it goes up much more!

 

[RitaE]

I'm expecting a big increase but I'm not sure yet how much.

DH's plan is company self-funded and they had a spike in cancer claims this year. The company was insured against having to pay claims over some catastrophic amount and they hit that amount - but they also depleted their reserves against future claims by a significant amount. From what I hear it is going to effect bonus amounts also.

So I'm guessing health insurance premium costs will raise significantly and adding in Obamacare isn't going to help. It's really tough on the lower paid employees. They've had several years in a row now where their insurance premium increases have gone up more than the standard wage raise increase.

 

[Pea-n-Me]

It's not just the premiums. (Ours went up 800%. Yes, you read that right.)

I got a huge bill in the mail for my DS's recent surgery when previously most expenses for hospitalizations were covered under our plan. (And as far as I could tell, nothing in the plan itself had changed.) In checking it out, everyone on the other end (hospital, insurance co., HR) agreed that "costs have just gone up".

So yeah, if it hasn't hit you yet, sit tight. It will.

 

[eliza61]

Just got our benefit package yesterday. Our premiums are the same and folks who were in the managed care group are getting a 150 dollar refund.

Have not read the entire pdf so I have to make sure we didn't lose any coverages.

 

[usd2bmd]

This year was the first year we went with coverage through my husbands employer. We have been getting letters and information but there is no increase coming in October. We will (like every other year) compare at open enrollment and decide which is best for us. We are pretty healthy (knock on wood) and have not had any major illnesses that put a dent in our cash flow.

The healthcare act as it stands now may not be perfect...but considering the number of people who could not afford coverage before (due to whatever reason) and will under the new act; it's a start. Healthcare in this country is ridiculously expensive and something needs to be done to reign in the cost.

for a country as advanced as we are in somethings we are pretty backwards in many others.

 

[Judyat]

If your rates have gone up or you think they might go up check out your state's rates and plans starting October 1. Some states have already published the companies and rates for different policies online. Subsidies for individuals making up to $46,000 and family subsidies for those making up to $94,000.

 

[jensen]

We have been getting letters from my DH job reminding us of the new changes coming up in Oct. I've been wondering how much our premiums will be going up. Not sure where I can find any slack in the budget to cover it. Anyone else concerned?

I got a letter from my insurance company yesterday... mine is going up $30/month in January, after it just went up $30/month in July. And I have "Grandfathered" coverage, so I'm not even getting the benefits of the new mandates.

I'm anxious to see what I can get on the exchange!

 

[Judyat]

So compare what you have with what the state exchanges offer October 1. And if the exchanges look better switch. You don't have to put up with the coverage you have.

 

[Green Tea]

I'm not worried. I have group health through an employer so I don't expect any changes. I think they negotiate for 2 year contracts so the increase came over the summer. Things should stay the same until the next renewal

 

[kirstie101]

My portion of the premium for Kaiser for my family of 3+ is going up by $96 in January. Which is basically a 33% increase for me. Definitely more than I was expecting.

 

[TwoAtDisney]

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!

 

[Chelley00]

Premiums up

Coverage down


That's what we know we are looking forward to next year.

 

[TwoAtDisney]

Minor correction - same as always - "every" year, such as, years past, current year, & future years! Just like everything goes up, so does health insurance. Facts of life. Best to plan for it.

 

[mrzrich]

We had our benefits meeting last week. My family coverage was raise from $176 every 2 weeks to $255 every 2 weeks. An increase of $2054 a year and the co pays and deductilbles went up.

Oh, and about

"If you like your doctor, you can keep your doctor"

I can't. My doctor pulled out and is joining a Physicians group that takes Medicare only.

 

[Juliet25]

I am not worried. I have looked at the rates that many states have released for their exchanges and they look good if you use them. Subsidies will help many with their coverage. Take a look at your state's healthcare exchange if they have released their rates or when the exchanges open October 1. Facts are not bearing out what some are saying against it. And there's a lot of misinformation being spread out there. I know here in New York rates will be lower and there will be more plans available. They have released the plans and rates by county. All of the information and details on them will be available starting October 1.

I'm not worried either. I'm currently priced out of DH's health coverage. It costs 10% of his salary just to add me to his coverage. Under the exchanges, I'll be eligible for coverage for half of what we would be paying now.

 

[Judyat]

Let's look at a few figures here. Medicare is $104.90 a month and covers 80%. You can add to that drug coverage if you need it and supplemental to pick up the 20% medicare doesn't cover. It's a great deal. And because I retired with healthcare benefits I am reimbursed for what I pay for medicare and I also have my prescription drugs and supplemental coverage covered. My healthcare now becomes my supplemental when I reach medicare age next year. My husband has it now. I would love to see medicare for all.