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Hidden money savings - Health Ins
Old 01-25-2008, 07:38 AM   #1
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Hidden money savings - Health Ins

I got my Health ins. premium notice it was a 22% increase. So I went to the health provider web site to look at the cost of other plans. I saw my current plan was only a 7% increase. So I called to find out about it.

I could get the lower rate if I asked for a ROLLBACK. All that was is that I was to do the 12 month pre-exisiting waiting period. Since I don't have any pre-existing conditions; I'm not really waiting for anything.

If I did have a pre-existing condition I could just pay the higher rate.

So I every year I will be calling them up and asking for a ROLLBACK.
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Old 01-25-2008, 08:48 AM   #2
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So I every year I will be calling them up and asking for a ROLLBACK.
Really slimey business practice on the insurer side: charge you way too much in an opaque way, put the burden on you to ask for the right price every year, and not tell you about it until you asked?!?

Insurance commissioner would probably find that practice amusing...
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Old 01-25-2008, 08:48 AM   #3
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dex, who is your insurer?
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Old 01-25-2008, 08:51 AM   #4
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Could you rephrase that second paragraph, Dex, I'm not understanding it?
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Old 01-25-2008, 10:06 AM   #5
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dex, who is your insurer?
Blue Cross & Blue Shield of Georgia
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Old 01-25-2008, 10:09 AM   #6
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Could you rephrase that second paragraph, Dex, I'm not understanding it?
I could get the lower rate if I asked for a ROLLBACK. The ROLLBACK's only condition is that I have to submit to the 12 month pre-exisiting condition waiting period. Since I don't have any pre-existing conditions; I don't have any risk.
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Old 01-25-2008, 10:37 AM   #7
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Sounds kind of like a "teaser rate" that you can get by re-insuring each year. Thanks for the info.

Dan
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Old 01-25-2008, 11:37 AM   #8
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...So I every year I will be calling them up and asking for a ROLLBACK.
You happened to find this out by chance.

How is the average person supposed to know this?

Did you ever get something in writing advising you of this option?
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Old 01-25-2008, 11:54 AM   #9
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If there were no pre-existing conditions identified when you were accepted for the policy, what is to gain by BCBS-GA by submitting you to a waiting period...trying to think of an example where BCBS might benefit...declination of a cancer identified this year, but which had grown undiscovered the prior year? Or was it just an unwarranted, unjustified, inflated premium?
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Old 01-25-2008, 12:38 PM   #10
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If there were no pre-existing conditions identified when you were accepted for the policy, what is to gain by BCBS-GA by submitting you to a waiting period...trying to think of an example where BCBS might benefit...declination of a cancer identified this year, but which had grown undiscovered the prior year? Or was it just an unwarranted, unjustified, inflated premium?
Ya think?
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Old 01-25-2008, 03:54 PM   #11
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Another way to drive the unhealthy out of the plan.
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Old 01-25-2008, 09:28 PM   #12
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Another way to drive the unhealthy out of the plan.
I'm not sure it would drive the unhealthy out of the plan because they would have nowhere to go. But it sure seems like a devious way to raise the rates on only the unhealthy within the plan. The health insurers always claim they won't single out an individual within the plan for a rate increase. I guess the way they get around that is to give rate decreases to the healthy via these rollbacks.
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Old 01-26-2008, 09:42 AM   #13
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I'm not sure it would drive the unhealthy out of the plan because they would have nowhere to go. But it sure seems like a devious way to raise the rates on only the unhealthy within the plan. The health insurers always claim they won't single out an individual within the plan for a rate increase. I guess the way they get around that is to give rate decreases to the healthy via these rollbacks.
It isn't just the unhealthy. I haven't put in any claims since I joined.
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Old 01-26-2008, 09:51 AM   #14
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It isn't just the unhealthy. I haven't put in any claims since I joined.
I understand. What I meant is the person with a pre-existing condition couldn't do the rollback without losing his coverage for that condition for one year, while you as a healthy person can do the rollback.
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Old 01-26-2008, 02:34 PM   #15
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I would guess most people would have accepted the increase without going to the web site and finding out that they had the option of using the rollback feature. I wonder what other ins. cos. have this same strategy. I have bcbs of MN. Will have to check and see. Most people just assume there ins. rates will go up every year and accept them.
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Old 01-26-2008, 11:31 PM   #16
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Sounds like the DSL and cable companies that always have better deals for new customers than for existing. I would say it's good practice to reevaluate all your ongoing services yearly to make sure you are in the best position... telecom, utilites, mortgage, car insurance, health insurance, property insurance, etc.
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Old 01-26-2008, 11:44 PM   #17
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I hate insurance companies.



Just had to get that off my chest
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Old 01-27-2008, 03:09 AM   #18
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I hate insurance companies.



Just had to get that off my chest

Ah come on the GEICO caveman is pretty funny, and the GEICO Geiko is cute. Even the AFLAC duck has its moments.
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Old 01-27-2008, 05:39 AM   #19
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More evidence of the need for health care reform.


Let's face it, businesses want to make money. In health insurance, that means getting rid of the people that cost more money.


Unfortunately, it is like asking an animal to not show its true nature.

IMHO - The republican party will never create a health care system that is unbiased in this regard. The conflict is that the democratic party chooses to over do it and give everything away. Where are the sensible moderates?
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