Well, my health insurance premiums are going up 15% next year

[retire@40]

Just got my renewal package. I was planning for a 10% increase, but the bastards went up 15% on me, almost a $100 per month increase.

With these increases, I may have to change my name to retire@41.

[Dawg52]

I haven't received mine but the rates BCBS show on their website indicate a 10% increase for me. 10% a year for the next 13 years(medicare age), I will be paying over $600/mo for a high ded catastrophic plan in year 13. Thats a single rate. And it will probably be closer to $1000/mo as 10% is probably a conservative number.

[TromboneAl]

Did you move into a new age-group?

[retire@40]

Quote:

Originally Posted by TromboneAl Did you move into a new age-group?

Yes, that's part of the problem, but the increase is still outrageous. IIRC, the increase was about 10% last year without the age-group effect.

[bow-tie]

Many keep saying this type of stuff can't be sustained long-term, which I agree with. I guess the question becomes - how long does it last and how out-of-control do the rising prices get before something truly changes........?

[eridanus]

Quote:

Originally Posted by bow-tie Many keep saying this type of stuff can't be sustained long-term, which I agree with. I guess the question becomes - how long does it last and how out-of-control do the rising prices get before something truly changes........?

To butcher Mencken, it'll last long enough to ensure that we can no longer afford coverage.

[neo]

I'd like to know: who's getting the money?

[jazz4cash]

One doctor I recently started going to says 15% is admininstrative, which is the piece BCBS is most responsible for. I am always ticked off and amazed the way the issue the EOB statements........One doctor visit generates 2-4 EOBs for doctor. lab, pharmacy, etc which repeat 4-6 months till they are finally paid at a fraction of a fraction of reasonable and customary. Imagine if Visa sent individual statements for each item you charged? It would seem more efficient to me if they would list all activity by date and status as of current statement date (paid, pending, rejected, or whatever

[Spanky]

Quote:

Originally Posted by timo I'd like to know: who's getting the money?

CEO compensation of insurance companies; unnecessary or redundant tests; unproven, sometimes unwanted procedures; overpriced drugs and medical devices; ...... etc

[youbet]

Quote:

Originally Posted by Spanky CEO compensation of insurance companies; unnecessary or redundant tests; unproven, sometimes unwanted procedures; overpriced drugs and medical devices; ...... etc

Excessive compensation of CEO's irks me too Spanky, but I doubt that even if they worked for free it would have much impact on rates.