Join Early Retirement Today
Closed Thread
Thread Tools Search this Thread Display Modes
Firsthand Obamacare experience
Old 10-12-2016, 12:58 PM   #1
Recycles dryer sheets
Join Date: Oct 2012
Location: Salt Lake City, UT
Posts: 230
Firsthand Obamacare experience

I was recently forced to purchase an Obamacare insurance plan for the remainder of 2016. Here is some data.

I had the old plan for over 6 years. It was an individual plan with United Healthcare and covered myself and DW.

For 2016, the old plan cost $590 a month and had a $6000 deductible.

The Obamacare plan costs $760 a month and has a $9000 deductible.

I have prescriptions that I refill monthly. One of them has a retail cost of $96.00 each month. My old plan priced that prescription at $16.00 per month. Paid that amount for several years.

Obamacare's pricing is $80 per month. A 500 percent increase.

[Mod Edit]

UtahSkier is offline  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-12-2016, 01:20 PM   #2
Recycles dryer sheets
Join Date: Oct 2013
Posts: 225
Those are unfortunate cost increases. Can you share why you were forced to purchase an Obamacare plan?

Not that this will lesson the sting, but the healthcare prices at my megacorp are going up too. But, that has been going on for years and predates the ACA law.

NoiseBoy is offline  
Old 10-12-2016, 01:52 PM   #3
Recycles dryer sheets
Join Date: Oct 2012
Location: Salt Lake City, UT
Posts: 230
Life change....

My original plan was a multistate plan and covered me in AZ and UT. I recently sold my AZ home. Since I originated this plan in AZ, I could keep it, nor could I transfer it to UT.

As for price increases, Bill Clinton recently described the problem pretty well. The Obamacare risk pools are very small (county based I think). These small pools have no pricing power. My prescription cost is a good example of this.

"But there is a group of people -- mostly small business owners and employees -- who make just a little too much money to qualify for Medicaid expansion or for the tax incentives who can't get affordable health insurance premiums in a lot of places. And the reason is they're not in big pools," Clinton said. "So they have no bargaining power."
Bill Clinton calls Obamacare 'the craziest thing in the world,' later tries to walk it back -
UtahSkier is offline  
Old 10-13-2016, 01:16 AM   #4
Alan's Avatar
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 22,045
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline  
Closed Thread

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Twitter Experience Like ER-Forum Experience? TromboneAl Other topics 10 03-23-2015 12:17 PM
my experience with Obamacare/CoveredCA figner Health and Early Retirement 10 10-14-2014 09:47 AM
You retirees w/ 10+ years experience, what's next? Nords Life after FIRE 12 01-31-2010 02:43 PM
No substitute for experience John Galt Life after FIRE 9 02-08-2005 01:31 PM
Experience with 1031 Exchange? Rich FIRE and Money 8 02-03-2005 08:21 AM


All times are GMT -6. The time now is 08:09 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.