My rates went up

[Gumbo4x4]

Our rates are NOT going up. Last year they went up 8%, 11% the year before that, 10% the year before that (I know the figures, I am a union rep/negotiator here). It's not uncommon for insurance rates to increase every year. It's how the insurance industry collects the huge profits they make annually. I bet your insurance premiums went up every year, too, but most people haven't realized/paid attention to it. 'Ho hum, what are ya gonna do about it' has been most peoples' reaction over the years. THIS YEAR, people are paying attention because of ACA and are happy to blame increases on ACA, when really, it's been going on for a long time.

(Disclaimer: Yes, rates are going up. If yours increased a LOT, look back over your prior years' policies and rates and see how much this year's increase really differers. You might be surprised...)

Some are happy to blame ACA because ACA deserves the blame.

Many believed ACA was the solution to an ongoing problem. In reality, it is proving to have either no impact or a negative impact for all but a small minority.

 

[jrmasm]

This thread won't last long. Call me cynical, but I think insurance companies (which, last I checked, continue to have OBSCENE profits, and hefty executive salaries) are using the ACA as the perfect excuse to sock it to the consumers. After all, those consumers won't blame us (and our high profits/salaries), they will blame Obama. What a perfect opportunity. And, anyone who doesn't believe this, well, I also have a bridge for sale. Great views of the Pacific Ocean and San Francisco Bay.

Same.

My increase is the same as the last three years with no change in benefits. I also belong to a very large group with a lot of bargaining power. I'm not sure if that's why we're not seeing changes. I guess I'll just wait and see what happens next year.

Regardless of the reason for the increases, I can sympathize with a sudden budget hit. It sucks regardless of the reason.

 

[JennaDeeDooDah]

The radio said today they've only had 106,000 people apply for it versus the 500,000 they were expecting. Awesome.

I heard the same thing. Also heard that at least 4 million have lost their insurance.

 

[Gumbo4x4]

This thread won't last long. Call me cynical, but I think insurance companies (which, last I checked, continue to have OBSCENE profits, and hefty executive salaries) are using the ACA as the perfect excuse to sock it to the consumers. After all, those consumers won't blame us (and our high profits/salaries), they will blame Obama. What a perfect opportunity. And, anyone who doesn't believe this, well, I also have a bridge for sale. Great views of the Pacific Ocean and San Francisco Bay.

I think anyone with half a brain saw that coming (and let's be fair, a big chunk of the blame does fall squarely on ACA, and it's a convenient scapegoat otherwise). One has to wonder though, if we ALL saw this coming.........

Well, you can guess the rest.

 

[AustinTink]

This thread won't last long. Call me cynical, but I think insurance companies (which, last I checked, continue to have OBSCENE profits, and hefty executive salaries) are using the ACA as the perfect excuse to sock it to the consumers. After all, those consumers won't blame us (and our high profits/salaries), they will blame Obama. What a perfect opportunity. And, anyone who doesn't believe this, well, I also have a bridge for sale. Great views of the Pacific Ocean and San Francisco Bay.

Duh. Of course that's what is going on, but if the ACA had not happened in the first place or been so flawed the insurance companies would not have been given this opportunity to bleed us dry. ACA is their golden ticket. People with proper coverage should have been left alone.

For the record, I had high hopes for the ACA. I actually thought my family would benefit from it as individual healthcare policy holders. Big disappointment.

 

[LisaR]

This thread won't last long. Call me cynical, but I think insurance companies (which, last I checked, continue to have OBSCENE profits, and hefty executive salaries) are using the ACA as the perfect excuse to sock it to the consumers. After all, those consumers won't blame us (and our high profits/salaries), they will blame Obama. What a perfect opportunity. And, anyone who doesn't believe this, well, I also have a bridge for sale. Great views of the Pacific Ocean and San Francisco Bay.

I called this long before ACA ever went into effect. This is a great excuse for the insurance companies to make even more money and blame someone else. They are laughing all the way to the bank.

 

[TinkerBelled]

I'll say this: I think I'll take a tradeoff of higher rates for not being able to be kicked off my insurance for preexisting conditions. There was a good article about this on Slate yesterday: many people who had the best deals on insurance found that insurance cancelled when they developed serious problems, and then found themselves out in the cold with new plans. Part of the increase is due to not being able to write off policies for people with serious diseases or problems. They can't save money by getting out of expensive payouts through loopholes, so rates are going to increase.

It's not necessarily a great deal if you're healthy, but it's life-saving (perhaps literally) if you're sick, will become sick, or have once been sick. It's truer insurance.

 

[Gumbo4x4]

Same.

My increase is the same as the last three years with no change in benefits. I also belong to a very large group with a lot of bargaining power. I'm not sure if that's why we're not seeing changes. I guess I'll just wait and see what happens next year.

Regardless of the reason for the increases, I can sympathize with a sudden budget hit. It sucks regardless of the reason.

The big hits (this year anyway) are primarily being lumped on people who purchase insurance as an individual outside of a group plan.

My company pays 75% of my insurance, so I get mine through work. OTOH, they pay 0% toward my family and the plan is VERY expensive. So, my wife and kids are on a plan through a local rep which we pay for 100% out of pocket.

 

[LisaR]

Duh. Of course that's what is going on, but if the ACA had not happened in the first place or been so flawed the insurance companies would not have been given this opportunity to bleed us dry. ACA is their golden ticket. People with proper coverage should have been left alone.

For the record, I had high hopes for the ACA. I actually thought my family would benefit from it as individual healthcare policy holders. Big disappointment.

There should have been regulations in place to prevent insurance companies from taking advantage of their clients. Without that, they are crying a river about the increases they are facing and that is complete and total BS. They are doing nothing except taking advantage of the system.......something many get very up in arms over when another group takes advantage of the medical system.

 

[ORMom2Four]

Ours went up 15%, we just enrolled again yesterday.

It's basically a "if you get Cancer, need surgery, get in a bad accident" type of coverage. Our deductible is now $7000 and we don't have coverage for medications.

If we get sick, we will be calling doctors to see who has the cheapest rate, regardless if they are in our plan or not, and will buy our Rx meds from another country.

Our health plan is a sad, sad joke

It's funny--I am jealous of those who brag that they have $10 Rx or doctor co-pays.

 

[rgf207]

My Auto Insurance Rates went up as well as my cable bill and homeowner's insurance just to name a few. Do we only care when it's health insurance?

 

[Gumbo4x4]

There should have been regulations in place to prevent insurance companies from taking advantage of their clients. Without that, they are crying a river about the increases they are facing and that is complete and total BS. They are doing nothing except taking advantage of the system.......something many get very up in arms over when another group takes advantage of the medical system.

There's a reason the insurance companies only balked mildly at this bill

 

[Gumbo4x4]

My Auto Insurance Rates went up as well as my cable bill and homeowner's insurance just to name a few. Do we only care when it's health insurance?

When your cable bill is as much as a car payment AND a mortgage payment combined, you let me know.

 

[FlightlessDuck]

Not only will my rates not go up next year, but also now more of the money I spend will go toward my deductible thanks the Affordable Care Act. I believe previously my copays didn't apply. Or maybe it was co-insurance. Or both. I dunno.

I get my insurance through my employer, and in my case it is my employer's choice whether or not to raise my rates. I think this is true for most people in the US.

Although the Emergency Room copay doubled.

 

[Geoff_M]

Not to worry, people, it is reported that a "fix" for all of this (one that will not require any troublesome legislation and voting) will be announced within the hour!

The numbers announced yesterday, should be alarming to people on a number of fronts. First, over 80% of people signing up are stampeding to Medicaid instead of the Exchanges. This is not good news for state or Federal budgets. Secondly, for people that have provided enough information, only about 2 out of 7 people who have created accounts have been found to be eligible for subsidies based on information provided. This compares to government estimates of 5 out of 7 would be getting subsidies. This means a lot more people are getting the "sticker shock" when looking at the final costs of new plans on-line than expected.

Things might change over time, but so far it seems that a lot of the assumptions made in the calculus aren't panning out.

 

[tasha99]

My Auto Insurance Rates went up as well as my cable bill and homeowner's insurance just to name a few. Do we only care when it's health insurance?

Really? They went up and your services went down? That seems unusual unless you had an accident.

The ACA causing rates to rise is a no brainer. How else will insurance companies be able to pay for sick people who are added to plans? I think trying to find a safe rate to charge when people can pay the fine and just add insurance years later if they get cancer has to be an actuarial nightmare.

 

[Cannot_Wait_4Disney]

The radio said today they've only had 106,000 people apply for it versus the 500,000 they were expecting. Awesome.

Actually over 600,000 have filled out an application. The 106,000 is the number that have already picked a plan.

 

[FlightlessDuck]

First, over 80% of people signing up are stampeding to Medicaid instead of the Exchanges.

That's because Medicaid was expanded to include people making up to 130% of the poverty limit. So, it's not like this is a shock or anything.

 

[Art 1]

Those who are were selfish enough to not pay for insurance still won't, no matter what the fine or tax implication, heck, many of them pay no taxes. They will continue to burden the people paying taxes. In a few years this will probably be all over with.

 

[JanaDee]

Just over 100,000 people utilizing this service...while those of us who were perfectly fine with our coverage (didn't ask for anything from anybody) are left with premiums increases. I'm so angry this morning.

I'm sorry.

Ours only went up $40 a month, but our deductible increased and instead of insurance covering 100%, it will now cover 85 and we are responsible for 15. So we are paying more and getting lesss.

I'm expecting a large increase in 2015.