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Confused About Premiums Posted?
Old 02-08-2011, 07:35 PM   #1
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Confused About Premiums Posted?

I'm still employed, but planning ER in about 6 long...... months. I plan to stick with what is left of my company's retirement medical coverage, but am confused about some of the posts and premiums I read in this forum. I admit, I've not spent a ton of time investigating the subject yet.

I qualify for two options through my company for myself + spouse: 1) $500/$1000 Deduct, MOOP $4000/$8000 at $680/mo., 2) $1500/$3000 Deduct, MOOP $4000/$8000 at $510/mo. There is no assurance that they will continue to even offer these options, so I started looking outside.

I live in Ohio, am considered "pre-diabetic" cause my glucose has stayed the same for the last 30 years and ocassionally exceeds 100. I'm "pre-diabetic" because I'm now over 55 (57) in my opinion, and am now on Metformin.

I called BCBS and gave them my age and answered their questions. They weren't too interested in me, and offerred a plan at around $1000/mo., didn't even get to discussing my wife who takes preventive blood pressure medications.

I'm healthy, as is my wife, never have been in the hospital in decades, no physical issues, and low medical cost history. What am I missing reading about premiums in the low hundreds when I'm being quoted in the thousands?

Thanks for any replies!
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Old 02-08-2011, 07:42 PM   #2
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Originally Posted by zaqxsw View Post
I'm healthy, as is my wife, neve been in the hospital, no issues, and low medical cost history. What am I missing reading about premiums in the low hundreds when I'm being quoted in the thousands?

Thanks for any replies!
Group with no underwriting vs individual with underwriting.

Ha
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Old 02-08-2011, 10:17 PM   #3
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Quote:
Originally Posted by zaqxsw View Post
I'm still employed, but planning ER in about 6 long...... months. I plan to stick with what is left of my company's retirement medical coverage, but am confused about some of the posts and premiums I read in this forum. I admit, I've not spent a ton of time investigating the subject yet.

I qualify for two options through my company for myself + spouse: 1) $500/$1000 Deduct, MOOP $4000/$8000 at $680/mo., 2) $1500/$3000 Deduct, MOOP $4000/$8000 at $510/mo. There is no assurance that they will continue to even offer these options, so I started looking outside.

I live in Ohio, am considered "pre-diabetic" cause my glucose has stayed the same for the last 30 years and ocassionally exceeds 100. I'm "pre-diabetic" because I'm now over 55 (57) in my opinion, and am now on Metformin.

I called BCBS and gave them my age and answered their questions. They weren't too interested in me, and offerred a plan at around $1000/mo., didn't even get to discussing my wife who takes preventive blood pressure medications.

I'm healthy, as is my wife, never have been in the hospital in decades, no physical issues, and low medical cost history. What am I missing reading about premiums in the low hundreds when I'm being quoted in the thousands?

Thanks for any replies!
I do not pretend to be a health insurance expert, but I will share my experiences from one who left my group plan voluntarily to get an individual policy when I retired. I and several co-workers got low premiums because we were all healthy, took no medications, and have no pre-existing conditions.The less healthy retirees stayed with the group plan and pay the premium. It appears the people who even have what might be considered "minor" health issues dont get the same premium rate consideration as the healthy ones do. I have read that various health insurance companies underwrite premiums differently,so an insurance broker might be of some benefit to you. Of course the state you live in may also cause premiums to be more or less than people who are on this forum, too. Good luck in your search and decision, as it is defintely stressful and can be confusing.
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Old 02-08-2011, 10:30 PM   #4
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We don't have them, but some people have HSA-type of health insurance plans and it seems like those premiums are less. Do a search here for HSA and you'll find several threads that discuss them.
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Old 02-12-2011, 04:04 PM   #5
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Good news - Ohio's health insurance is about the cheapest anywhere in the country
Bad news - There's no such thing as "pre-diabetic" when it comes to health insurance. Being "pre-diabetic" or "borderline" diabetic, while still taking Metformin, is like being "a little bit" pregnant.

You might want to consider keeping the group plan for yourself and looking for an HSA plan for your wife with something like a $2500 deductible and 100% co-insurance. Might save you a few thousand dollars a year. Your deductibles are separate anyway on the group plan, so you wouldn't really be losing anything...
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Old 02-12-2011, 04:54 PM   #6
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zaqxsw, why would anyone tell you that you are not diabetic? Her is what I read
I'm "pre-diabetic" because I'm now over 55 (57) in my opinion, and am now on Metformin. I have done lots of research on this and really there is not such thing as pre. Once those blood sugar numbers are above the normal then we hare diabetic. I used to say the same thing. I call it denial which I was also in. Tom
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Old 02-13-2011, 06:49 AM   #7
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Thanks folks!!! Good info.

oldtrig, yea - denial is there, but I've had annual physicals since 1987 and kept a spreadsheet of the results of all of them. I hit glucose levels in several years in the 110-115 range decades ago. Now a 114 glucose gets me a A1C test where I run 6.0 - 6.3. Bet I've been there my whole life.

Anyway, I know these things get more concern when you get older, as they should. I'm being a good boy, doing my meds, dropped down to 170 lbs., and for the first time ever in my life, watching what I eat. Been at this for 2-3 years and my glucose and A1C just stay right in the above range. Guess I should be thankful for that.
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Old 02-21-2011, 07:01 AM   #8
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I have also been dealing with higher than normal (ever what normal is) for 30 years. My doctor tells me I am not diabetic. He will not do the A1C on me. I ordered mine on-line from walmart and sent it in. They email the results. I was at 5.5. I eat almost anything I want but I do walk everyday. I know the problem is there. I am one of the lucky ones that do know. The scare I got years ago woke me up. Having a nurse ask me if I am diabetic got my attention. I had went in for the yearly stuff and they did a blood test on my. I had sugar in my urine. I had just eat lunch and it was loaded with carbs. They tested me before I left the office that day and my B/S was 100. I quit stressing myself out about all of this and just started living. I do use common sense though when eating. oldtrig
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