free4now
Thinks s/he gets paid by the post
- Joined
- Dec 28, 2005
- Messages
- 1,228
I just got a notice in the mail that I am part of a settlement class due to my Anthem healthcare insurance. The settlement benefit is that I get to switch to any of the currently offered plans offered by Anthem, without needing a medical underwriting and without the possibility of being denied due to pre-existing conditions. This will be available to me whenever Anthem raises rates until the end of 2013. I've been in the the now-grandfathered HSA compatible PPO 3500 deductible plan for a few years now, and during that time had a hospital visit where a pre-existing condition was discovered. So this sounds like good news; I assume the newer plans will have more benefits since they were developed under the new stricter healthcare regulations.
Anyone else get this settlement notice? I'm wondering about strategy, whether to try to switch to a new plan ASAP, or wait as long as possible.
The settlement letter made what I think is a good point that my current plan will likely remain cheaper than new plans for a while, but that at some point it will probably become more costly than the newer plans because the grandfathered status means that younger healthier people won't be able to join, and only the older sicker folks will remain. That was apparently the basis of the lawsuit.
So my thinking as of now is to wait until 2013 to try and switch, so as to take advantage of a couple of years of lower rates, and to see what develops in terms of new plans. The only hitch is that Anthem could conceivably fail to raise rates in 2013, eliminating my ability to switch, but that just doesn't seem likely
I must admit that I thought the Obama healthcare reform eliminated denials on the basis of pre-existing conditions altogether, so it's not clear this is really even a benefit to me when (if) that kicks in in a few years. But I'd assume there's some loopholes in the Obamacare plan that would let them deny based on pre-existing.
Anyone else get this settlement notice? I'm wondering about strategy, whether to try to switch to a new plan ASAP, or wait as long as possible.
The settlement letter made what I think is a good point that my current plan will likely remain cheaper than new plans for a while, but that at some point it will probably become more costly than the newer plans because the grandfathered status means that younger healthier people won't be able to join, and only the older sicker folks will remain. That was apparently the basis of the lawsuit.
So my thinking as of now is to wait until 2013 to try and switch, so as to take advantage of a couple of years of lower rates, and to see what develops in terms of new plans. The only hitch is that Anthem could conceivably fail to raise rates in 2013, eliminating my ability to switch, but that just doesn't seem likely
I must admit that I thought the Obama healthcare reform eliminated denials on the basis of pre-existing conditions altogether, so it's not clear this is really even a benefit to me when (if) that kicks in in a few years. But I'd assume there's some loopholes in the Obamacare plan that would let them deny based on pre-existing.