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Old 08-29-2013, 12:02 PM   #221
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Mulligan...my plan renews Sept 1 and I am already safe until next September although with an 11% increase from prior year. Come Oct 1st...or whenever the exchange opens here in Va I'll take a look at those to see if I can get a feel for the individual rates.- on the exchange.
For the sake of others who may have individual coverage, I will pay $434 a month in 2014 for my current policy and my husband pays close to $400 a month for his. We both have $3500 deductibles. I have dental, he does not. We are both 58 years old. Neither are ACA compliant. This totals a $10,008 net of tax yearly amount and it is pre ACA implementation.
I can see why you are concerned and interested in finding out, as your present rates seem high to me, but I am still barely on the short side of 50. I am sure you have been tracking some of the other released states premiums. Though impossible to accurately compare apples to apples on policies let alone state costs, but it appears you could possibly be in line for a $100-$200 monthly increase pp, backing out your dental costs. But that is just speculative guessing based on a couple states and your age. To be honest I am just as worried about the second foot dropping. That being when this pot of money the government is temporarily giving to insurance companies to cover possible losses of sick people joining their plans. The money will have to come from somewhere and I think I know where it will.
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Old 08-29-2013, 12:49 PM   #222
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Originally Posted by sheehs1 View Post
Mulligan...my plan renews Sept 1 and I am already safe until next September although with an 11% increase from prior year. Come Oct 1st...or whenever the exchange opens here in Va I'll take a look at those to see if I can get a feel for the individual rates.- on the exchange.
For the sake of others who may have individual coverage, I will pay $434 a month in 2014 for my current policy and my husband pays close to $400 a month for his. We both have $3500 deductibles. I have dental, he does not. We are both 58 years old. Neither are ACA compliant. This totals a $10,008 net of tax yearly amount and it is pre ACA implementation.
Renewing now makes sense, because if a better plan appears on the exchange you can change. You would lose the deductible, so you're probably better off scheduling anything medical before the renew date.

Your rates look in the same ballpark as Maryland and DC, FWIW.
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Old 08-29-2013, 02:25 PM   #223
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I can see why you are concerned and interested in finding out, as your present rates seem high to me, but I am still barely on the short side of 50. I am sure you have been tracking some of the other released states premiums. Though impossible to accurately compare apples to apples on policies let alone state costs, but it appears you could possibly be in line for a $100-$200 monthly increase pp, backing out your dental costs. But that is just speculative guessing based on a couple states and your age. To be honest I am just as worried about the second foot dropping. That being when this pot of money the government is temporarily giving to insurance companies to cover possible losses of sick people joining their plans. The money will have to come from somewhere and I think I know where it will.
Back when I was 50, my rates were not bad either!
Amazing rate increases once past 55!
Believe it or not...our rates are good compared to some I have heard!.
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Old 08-29-2013, 02:27 PM   #224
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Renewing now makes sense, because if a better plan appears on the exchange you can change. You would lose the deductible, so you're probably better off scheduling anything medical before the renew date.

Your rates look in the same ballpark as Maryland and DC, FWIW.
Yes..need to consider a full work up and all preventive tests.

Are those rates in Maryland and DC, projected exchange rates for individual coverage.? Need to spend some time looking around. I feel I am on the internet hours a day as it is! LOL!
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Old 08-29-2013, 04:17 PM   #225
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Yes..need to consider a full work up and all preventive tests.

Are those rates in Maryland and DC, projected exchange rates for individual coverage.? Need to spend some time looking around. I feel I am on the internet hours a day as it is! LOL!
Though not your next door neighbors, here are a couple more you can play with if you feel compelled to hang out on the 'net some more.

http://missoulian.com/montana-exchan...9bb2963f4.html

http://www.healthsourceri.com/wp-con...L-08202013.pdf
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Old 08-29-2013, 05:47 PM   #226
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As someone who is currently paying in excess of $1900 per month for a high deductible plan through Golden Rule (DW had breast cancer in 2003 and I have arthritis in my neck), even without subsidies, my premiums will drop by about $700 per month (at worst). This is not about politics for me but about being able to actually afford coverage of some kind.
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Old 08-29-2013, 10:22 PM   #227
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Yes..need to consider a full work up and all preventive tests.

Are those rates in Maryland and DC, projected exchange rates for individual coverage.? Need to spend some time looking around. I feel I am on the internet hours a day as it is! LOL!
Here are Maryland rates Maryland Insurance Administration - Home Page
Here are DC rates http://disb.dc.gov/sites/default/fil...Rates71913.pdf
Both are for 2014. We have no idea if they will be close to VA. Not much to go on, but some age breakdown.
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Old 08-29-2013, 11:04 PM   #228
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Thanks for the links Mulligan and Michael. It helps and I have printed off a couple of them. Yes they are averages...but at least it is something to go on for now.
My current rate for 2014 from Anthem is falling in line with these averages. That makes me hopeful.
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Old 08-29-2013, 11:16 PM   #229
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As someone who is currently paying in excess of $1900 per month for a high deductible plan through Golden Rule (DW had breast cancer in 2003 and I have arthritis in my neck), even without subsidies, my premiums will drop by about $700 per month (at worst). This is not about politics for me but about being able to actually afford coverage of some kind.
jflynn4, It is when I read or hear about premiums like this that I'm glad something is changing for the better for some.

And to be honest, for a few years now, I've been afraid of getting a serious diagnosis of any kind (knock on wood). ACA should eliminate that fear.
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Old 08-30-2013, 08:23 AM   #230
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jflynn4, It is when I read or hear about premiums like this that I'm glad something is changing for the better for some.

And to be honest, for a few years now, I've been afraid of getting a serious diagnosis of any kind (knock on wood). ACA should eliminate that fear.
I have long thought that a serious diagnosis means no er for me, ever. Now that will be off the table.
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Old 08-30-2013, 10:00 AM   #231
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Another independent study of ACA's effects on individual "nongroup" market- this time using most recent info from 10 states.
The Affordable Care Act and Health Insurance Markets: Simulating the Effects of Regulation | RAND
From my prelim read, main points seem to be that over next 2 yrs ('14-'16 as ACA mandates kick-in)-
- There remains large window of uncertainty due to assumptions (e.g. actual enrollee population (by age, health, etc), specific implementation rules/delays, legislative tweaks, etc)
- Uninsured population will go down but remain a significant % of population
- Nongroup participation in individual market will rise
- Nationally little change in overall individual HI premiums due to ACA (assuming similar coverage features), but with marked variation by State from sl decrease (2) to basically unchanged (5) to 40+% increase (3). Net HI premium changes would, of course, vary depending on individual premium subsidy (if any).

IOW- After 77 pages of analysis, we're told that under ACA someone's individual HI premiums may decrease, not change, or increase.
Guess that about covers all the bases
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Old 08-30-2013, 12:22 PM   #232
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Another independent study of ACA's effects on individual "nongroup" market....

IOW- After 77 pages of analysis, we're told that under ACA someone's individual HI premiums may decrease, not change, or increase. ....
Well if it was a government study rather than an independent study it would have taken 770 pages rather than 77 so be happy.
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Old 08-30-2013, 07:09 PM   #233
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Sarah Kliff of the Washington Post included an interesting graph in her blog post today. (Created by an entity called Deft Research)

First, there is a generic table of monthly premiums with 60 y.o.'s paying 3X the premiums of 21 Y.O.'s:



Then various variable were used to create this chart:



The subsidy "cliff" kicking in at 400% of poverty line couldn't be more clear.

Here's a link to the article, which is focused more on the blue line:
The bros might just sign up for Obamacare yet
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Old 08-30-2013, 07:24 PM   #234
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In an interesting post from the Insurance Journal : Premium Increases Under Obamacare Are Exaggerated, Rand Says, the Rand Corp compares premiums on the ACA to prior premiums and says they are going to on average be about the same. Note that this study did normalize for increased benefits, so that comparing an old bare bones policy to one under the ACA was apples to apples.
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Old 08-30-2013, 08:57 PM   #235
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Just waiting on the Illinois exchange premiums.
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Old 08-30-2013, 09:03 PM   #236
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Just waiting on the Illinois exchange premiums.
After all of the states premiums get released we will have to run a poll to see who got rate relief, and who got bent over the barrel. I will make a guess and say due to the ages of people here and some thrifty people on this forum who can and will manage their AGI, there probably will be more winners than losers, which unfortunately will not include me.
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Old 08-30-2013, 09:08 PM   #237
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After all of the states premiums get released we will have to run a poll to see who got rate relief, and who got bent over the barrel. I will make a guess and say due to the ages of people here and some thrifty people on this forum who can and will manage their AGI, there probably will be more winners than losers, which unfortunately will not include me.
It's difficult to be a winner living in Illinois when you are counting on state run (in the ground) programs.
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Old 08-30-2013, 09:58 PM   #238
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The Wall Street Journal has posted a calculator for those age 49 and above, based on Toledo Ohio rates:
Senior Discounts - WSJ.com

Here's a link to the article for those that have access behind the paywall:

Subsidies for Older Buyers Give Health Insurers a Headache - WSJ.com

There's a similar WSJ calculator for young people in Oregon here:
The Young and the Healthy - WSJ.com
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Old 08-30-2013, 10:18 PM   #239
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In an interesting post from the Insurance Journal : Premium Increases Under Obamacare Are Exaggerated, Rand Says, the Rand Corp compares premiums on the ACA to prior premiums and says they are going to on average be about the same. Note that this study did normalize for increased benefits, so that comparing an old bare bones policy to one under the ACA was apples to apples.
I prev linked to the actual RAND study this article purports to summarize. This IJ article is rather disingenuous in focusing on hypothetical "average" and ignoring the wide variation RAND predicts between states (p vii of RAND study). Financial impact will be quite different for those poor folks in 3 states RAND predicts will see HI premium increases up to 40% vs those fortunate residents of 2 state who may see DEcrases in HI premiums. Also- RAND study only looked at 10 states. There are 40 still to be considered. And both parties (as well as some major labor unions) appear to agree that ACA needs at least some changes.
Bottom line - There is still much uncertainty, inc the likelihood that the economic differences between winners & losers under ACA may be rather large. Looks like budgeting for HI will remain problematic for most under ACA- at least for the 1st few yrs. Particularly for those near the "cliff", as Harry's nice chart showed.
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Old 08-31-2013, 09:52 AM   #240
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The Wall Street Journal has posted a calculator for those age 49 and above, based on Toledo Ohio rates:
Senior Discounts - WSJ.com

Here's a link to the article for those that have access behind the paywall:

Subsidies for Older Buyers Give Health Insurers a Headache - WSJ.com

There's a similar WSJ calculator for young people in Oregon here:
The Young and the Healthy - WSJ.com
Nice link Harry. I sent it to my thick headed friend who continues to believe Obamacare will be cheaper than his retired group plan he is presently on. About 40% higher for the similar plan he has, plus it got worse each year he gets older. As for me, this was the best comparison yet. For a bronze that has a $500 higher deductible than I presently have I would only have to pay THREE TIMES what I presently pay. Can't wait for 2015!
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