Actual Health Insurance Premium Increases For 2017

[Bestwifeever]

.. But I hate throwing good $$$$ at these insurance companies, then seldom see the benefit .....

I k ow what you're saying but I'm actually happy to never have to see the benefit.

 

[SecondCor521]

My subsidized cost looks like it will go from $198.29 to $219.66 per month - approximately 11% increase. Part of that is due to me being a year older, as someone pointed out above. Age 47 in Idaho with two dependents, SelectHealth Silver plan.

The unsubsidized cost went up more - my subsidy went from $394 this year to $564 next year.

Like FUEGO, I try to modulate my predicted AGI to just under 200% FPL to get CSR 87. I then modulate my actual AGI based on my tax situation at the end of the year. The two plans don't always match up, so I am waiting for someone in The System to point this out to me formally; until then I have good intentions.

 

[MichaelB]

I k ow what you're saying but I'm actually happy to never have to see the benefit.

When I was having a difficult time getting any health insurance, it was one of just a few things that didn't let me sleep at night. Providers, especially hospitals, can be real financial predators.

 

[Sue J]

I k ow what you're saying but I'm actually happy to never have to see the benefit.

In 2014 and 2015 we really used the insurance. In 2014 I had a hip replacement on a HDHP family plan with an aggregate deductible and in 2015 I had a bunch of expensive tests to rule out bladder cancer that was really kidney stones. So far (knock on wood) in 2016 we have really minimal expenses and with 2.5 months left I'm hoping we finish the year under $2000 in out of pocket costs. That includes dental visits and new glasses without dental or vision insurance.

It would be the first time in a long time that we had low medical expenses.

The trick to this new era of health insurance seems to be managing your MAGI income, if possible, and just not having bad stuff happen, health wise. Some of that you can control to a degree, some of it is part of aging and trying to stay healthy with whatever genetics you've been carrying around.

Some years it's a matter of maintaining, other years stuff breaks and sh*t happens! 2016 has been a good year for us but I always expect something will come up and we keep a good sized emergency fund for those years.

Back to the topic of costs for 2017, every year our Obamacare costs have increased and our coverage has decreased so I expect the same for 2017. We lost a chunk of subsidy in 2016 because the 2nd lowest cost silver plan basis was the same as the lowest cost silver plan, they were identical expect for the option of dental and vision so that skewed the benchmark for the subsidy. I finally got a complicated explanation for that and I hope it doesn't happen again for 2017.

 

[Bestwifeever]

When I was having a difficult time getting any health insurance, it was one of just a few things that didn't let me sleep at night. Providers, especially hospitals, can be real financial predators.

Definitely. Not being able to get any health insurance would have made me sick (there's irony). My hope is to always have health insurance and never have to make a claim (see the benefit). My last premedicare premium fifteen months ago for myself through DH's unsubsidized retiree spousal benefit was $1100 a month--I hated paying the premium but was elated to have the insurance. And I would have been more elated to never have had to use it.

Now? Our rarely used Plan D fell by $1 for 2017. Not sure what our Medicare and Plan G might increase, but we're not changing them no matter whar.

 

[mpeirce]

Ours went up about 10%. We're with Ohio BCBS.

It's an off exchange plan that has a high deductible with an HSA.

$542/month this year
$595/month next year

It covers me, DW and DS.

 

[bbbamI]

The great news is, dh's megacorp is continuing retiree benefits in 2017. The good news is, our premium did not change for next year. Our cost for medical (UHC), dental and vision will be $376 a month for both of us. However, the MOP increased from $8k to $10k.

But...I'm not complaining...far from it.

 

[harley]

We're also on an employer retiree health plan. Our premium is increasing about 8%, which seems to be about standard. When I retired 10 years ago we were paying $589/mo for the two of us (Kaiser Permanente). Now we're paying $1221/month. So a 107% increase over 10 years. I also am glad I stayed a couple extra years to qualify for it.

 

[CyclingInvestor]

Anthem BCBS thru CoveredCalifornia going up 38% (unsubsidized) this year after 3% last year and 10% the year before for Platinum Plan PPO. PPO is converting to EPO, so I will be exploring my options. Seven years to Medicare (sigh).

 

[ivinsfan]

would you all reporting prices mind including an age range like 45-50 or 35-40 otherwise the comparisons don't meant much

 

[Options]

Expect continued future increases:

According to the Centers for Medicare and Medicaid Services, healthcare inflation is expected to average about 6% per year for the next decade, which will put even more of a cost burden on future retirees. As a result, total lifetime healthcare costs in retirement for a 55-year-old couple planning to retire in 10 years would be $463,849 in today's dollars. This is17.4% more than today's retirees can expect to pay, and this doesn't even include the extra 10 years of inflation.

Emphasis mine

Here's What the Typical American Retiree Spends on Healthcare -- The Motley Fool

 

[mpeirce]

would you all reporting prices mind including an age range like 45-50 or 35-40 otherwise the comparisons don't meant much

Ours went up about 10%. We're with Ohio BCBS.

It's an off exchange plan that has a high deductible with an HSA.

$542/month this year
$595/month next year

It covers me (55) , DW (64) and DS (22).

-- added ages --

 

[Another Reader]

Pre-Medicare Retiree HMO plan from United Healthcare:

2015 Monthly Premium $972.34, Subsidy $261.08 Net Cost $711.26
2016 Monthly Premium $982.06, Subsidy $270.22 Net Cost $711.84
2017 Monthly Premium $994.30, Subsidy $270.22 Net Cost $724.08

I guess I can't complain about the increasing cost too much, as long as I am able to keep the Sutter Health entity (PAMF) I currently use.

Age 62 but the plan premium is not age dependent. The cohort is age 50 to 64. Not sure how many members of the cohort - maybe a couple of thousand?

 

[SecondCor521]

Age 62 but the plan premium is not age dependent. The cohort is age 50 to 64. Not sure how many members of the cohort - maybe a couple of thousand?

Fascinating. In my state, every year of age difference causes a change in premiums for most of the plans I looked at. I would think that 50->64 would be an age band where the pricing differences would be something an insurance company would want to put in place, and I don't think the ACA law prohibits doing so.

 

[pb4uski]

New York and Vermont are not age rated (essentially age rated at 1:1). Massachusetts is 2:1 and to my knowledge all other states are 3:1 which is the maximum allowed.

https://www.cms.gov/CCIIO/Programs-and-Initiatives/Health-Insurance-Market-Reforms/state-rating.html

 

[MBSC]

Pre-Medicare Retiree HMO plan from United Healthcare:

Age 62 but the plan premium is not age dependent.

Fascinating. In my state, every year of age difference causes a change in premiums for most of the plans I looked at. I would think that 50->64 would be an age band where the pricing differences would be something an insurance company would want to put in place, and I don't think the ACA law prohibits doing so.

Retiree plans are group plans. Generally, the group plan premium does not vary by age.

 

[Chris7]

15% increase plus an increase in the deductible from $3600 to $4000. Although, that is better than 2-years prior when it was $9K. Total Family Mon. Prem: $1,250. This is for an HMO style plan, but it does qualify for an HSA so I can set aside funds that aren't Federally taxed and my premiums aren't taxed either. I pay about 60% of the premiums.

cd :O)

 

[ExFlyBoy5]

There were so many days that I hated being in the military. Many days when I just wanted to bail. Many days when life was just...well, terrible and miserable. Nonetheless, I am SOOO glad I stayed around long enough to qualify for Tricare. Looking at these numbers just make me tremble!

 

[Another Reader]

Fascinating. In my state, every year of age difference causes a change in premiums for most of the plans I looked at. I would think that 50->64 would be an age band where the pricing differences would be something an insurance company would want to put in place, and I don't think the ACA law prohibits doing so.

It's not an ACA plan. It's a retirement system-arranged plan, which started several years ago, when the pre-Medicare retirees were kicked out of the employer's plan. ACA plans in California are age rated.

 

[SecondCor521]

Retiree plans are group plans. Generally, the group plan premium does not vary by age.

It's not an ACA plan. It's a retirement system-arranged plan, which started several years ago, when the pre-Medicare retirees were kicked out of the employer's plan. ACA plans in California are age rated.

Whoops. Somehow missed that it was a retiree plan and not an ACA plan. Makes sense. Thanks!

 

[Youngster]

Here's my story. Spouse and I were both on an ACA high deductible plan until September when spouse when on medicare. Our premium (with advance tax credit) was a little under $200.00 per month for the 2 of us.

Now, my premium for just me (same plan) is just under $310 per month. In 2017 my premium will be a around $340.00 per month for the same plan.

For my spouse, the total premiums for Medicare part B, Medigap G and plan D are around $250.00 per month for what appear to be excellent coverage.

 

[Brat]

I am a retired Federal employee, on Medicare. I suspended my participation in the Fed Employee Health Plan offerings to sign up for Kaiser Permanente NW Medicare Advantage Plan. The basic program is $44 (up from $41), Advantage Plus which includes hearing aid, dental and lower office visit/hospitalization benefits now costs $88 (up from $84).

OPM offering for Kaiser NW for 2 people is more expensive. Go figure. Maybe because the OPM program doesn't factor in Medicare.

 

[RobbieB]

Kaiser bronze ACA, HDHP, HSA compliant.

$527/mo, 61 yr old white male.

Bought direct from Kaiser, no marketplace, no subsidy.

 

[hesperus]

I'd like to once again sincerely thank Rich_by_the_Bay for suggesting that I might want to work two extra years beyond FI in order to qualify for this insurance.

I was short by three years for that lifetime benefit when I took my ER five years ago. It was a tough decision, but 3 years seemed like forever at the time. Fortunately we are still under the same plan (my DW) but if she leaves, we're on our own.

 

[scrabbler1]

My increase will be 9.1% (OSCAR, in NY) but there were some small plan changes including copays for things which previously had none. The annual deductible which I am nowhere near hitting, will rise, too. Two doctors of mine won't be in the network in 2017, so I have to find new ones if I want to stay with OSCAR.