|
09-22-2013, 10:13 AM
|
#1
|
Recycles dryer sheets
Join Date: Feb 2010
Posts: 293
|
Got MY ACA impact.
Private insurance through one of the big carriers. HDHC plan, $2500 Deductible. 48 YO.
Good:
Quote from the UHC letter: "The good news is that you can keep your coverage with us in 2014 and beyond as long as you continue to pay your premiums"
Bad:
Premium went up 27%
Unknown:
"We will provide you with more specific information during the 3rd quarter of 2014 about any ACA-required changes to your plan for 2014"
"While your premiums are not guaranteed to remain unchanged, they may be less than the anticipated higher premiums of new plans that include all of the ACA requirements [emphasis theirs].
While not a catastrophic increase, it doesn't make me happy...and I think it is just the first shot across the bow. At least I don't have to join an exchange.
YMMV
__________________
FIREd at 46, 8/31/11
|
|
|
|
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 Early-Retirement.org 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!
|
09-22-2013, 12:57 PM
|
#2
|
Thinks s/he gets paid by the post
Join Date: Feb 2011
Posts: 1,797
|
Depending on location, I suspect yours will be a common situation for indiv HI in 2014. While individual HI premiums historically increase with age, 27% in 1 yr for same HD plan seems high unless there was some significant change in your health. Do you know yet if your carrier will also be offering HI via your state Exchange?
|
|
|
09-22-2013, 03:25 PM
|
#3
|
Recycles dryer sheets
Join Date: Feb 2010
Posts: 293
|
Quote:
Originally Posted by ERhoosier
Depending on location, I suspect yours will be a common situation for indiv HI in 2014. While individual HI premiums historically increase with age, 27% in 1 yr for same HD plan seems high unless there was some significant change in your health. Do you know yet if your carrier will also be offering HI via your state Exchange?
|
Our state won't have an exchange, it is using the federal exchange. No change in health. Have spent less than 1/4 my deductible each of the last two years.
__________________
FIREd at 46, 8/31/11
|
|
|
09-22-2013, 07:27 PM
|
#4
|
Thinks s/he gets paid by the post
Join Date: Feb 2011
Posts: 1,797
|
Quote:
Originally Posted by REattempt
Our state won't have an exchange, it is using the federal exchange. No change in health. Have spent less than 1/4 my deductible each of the last two years.
|
Sorry for confusing choice of words re state exchange. Each state opting for (defaulting to) Fed exchange will still have its own array of carriers & Plan premiums. Was wondering if your carrier has released specific info on exchange Plans as this might provide a clue to future rates for its individual policies. IOW- You might see for yourself just what those "anticipated higher premiums" for ACA-qualifying Plans turned out to be. My guess is that significantly higher premiums for such Plans in your area would not be good news
|
|
|
09-23-2013, 06:07 AM
|
#5
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,331
|
OP - Why don't you update this thread to show what prices are available on your exchange once the prices are available in a couple of weeks. Since you sound happy to stay away from the exchange I assume your income is too high for you to be eligible for a supplement.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
|
|
|
09-23-2013, 07:16 AM
|
#6
|
Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 4,337
|
Why try to stay away from the exchange? HI is HI and the exchange is just a place to shop optional plans. The ACA mandates "essential coverages" that will have to be incorporated into all plans even employer provided plans. I can't see where you buy it to be an issue.
The "essential coverages" will include items that aren't necessarily in peoples plans now. It sounds like your insurance carrier is warning you that your premium is likely to go up January 1 when they are required to add the "essential coverages" that you're managing to live without now.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
|
|
|
09-23-2013, 02:47 PM
|
#7
|
Recycles dryer sheets
Join Date: Mar 2007
Posts: 236
|
I got my letter last week from Regence Blue Cross Blue Shield of Oregon. Premiums for wife and I will double - if we choose to remain. And how nice of them to automatically enroll us into the new plans!
I took a quick look at the Oregon state exchange and it seems that cost will be very reasonable (less than we pay now) with better coverage and less out of pocket costs.
It almost seems like Regence BC BS is intentionally chasing people out of their private coverage by raising the rates so high..... F$%$ 'em!
I'll certainly be looking to sign up for the Oregon state exchange plan.
|
|
|
09-23-2013, 03:40 PM
|
#8
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
|
Quote:
Originally Posted by Life_is_Good
I got my letter last week from Regence Blue Cross Blue Shield of Oregon. Premiums for wife and I will double - if we choose to remain. And how nice of them to automatically enroll us into the new plans!
I took a quick look at the Oregon state exchange and it seems that cost will be very reasonable (less than we pay now) with better coverage and less out of pocket costs.
It almost seems like Regence BC BS is intentionally chasing people out of their private coverage by raising the rates so high..... F$%$ 'em!
I'll certainly be looking to sign up for the Oregon state exchange plan.
|
I am curious, Life. Are you saying your present premium offered by BCBS is higher than exchange premium? Is your present plan offered by BCBS in the exchange, or in similar form? If it is what is the price difference?
|
|
|
09-23-2013, 05:22 PM
|
#9
|
Recycles dryer sheets
Join Date: Mar 2007
Posts: 236
|
Quote:
Originally Posted by Mulligan
I am curious, Life. Are you saying your present premium offered by BCBS is higher than exchange premium? Is your present plan offered by BCBS in the exchange, or in similar form? If it is what is the price difference?
|
I'm saying that my current BCBS premiums are higher than the Oregon Market exchange - after federal subsidy. The federal subsidy covers most of the state premium (at our income level).
My current BCBS plan is called Evolve Core - wife is 57, I'm 52. Together, we pay just over $420/mo for a POS w/$7500 deductible. It looks like we'll be paying less going through the Oregon exchange. I suppose that might be why it's called the Affordable Care Act.
BTW, my current BCBS plan will be discontinued after Dec 31 in favor of the new ACA-compliant plans - according to BCBS. Those are the ones with higher rates.
|
|
|
09-23-2013, 05:34 PM
|
#10
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
|
Quote:
Originally Posted by Life_is_Good
I'm saying that my current BCBS premiums are higher than the Oregon Market exchange - after federal subsidy. The federal subsidy covers most of the state premium (at our income level).
My current BCBS plan is called Evolve Core - wife is 57, I'm 52. Together, we pay just over $420/mo for a POS w/$7500 deductible. It looks like we'll be paying less going through the Oregon exchange. I suppose that might be why it's called the Affordable Care Act.
BTW, my current BCBS plan will be discontinued after Dec 31 in favor of the new ACA-compliant plans - according to BCBS. Those are the ones with higher rates.
|
Ok, I get it. Good for you on the subsidy! I am not able to snag the subsidy. I thought you were saying the underwritten plan was higher than the exchange one which didn't make sense to me, but the subsidy certainly clears it up for me. BCBS has been sending coded letters that I figured out meant they were dropping my plan also. I was able to decipher the words "exciting new plans January 1st" into what it really meant of "bend over and take it". So I dropped them and got another plan that will cheaply get me to December 2014.
|
|
|
10-01-2013, 06:36 AM
|
#11
|
Thinks s/he gets paid by the post
Join Date: May 2011
Location: South Eastern USA
Posts: 1,068
|
my portion of the premium for my ex-employer provided retiree health insurance went up by 7.7%, the first increase in over two years.
__________________
All that glitters is not gold. -G. Chaucer, W. Shakespeare
All that is gold does not glitter. -J.R.R. Tolkien
|
|
|
10-01-2013, 07:12 AM
|
#12
|
Recycles dryer sheets
Join Date: Feb 2010
Posts: 293
|
Quote:
Originally Posted by donheff
OP - Why don't you update this thread to show what prices are available on your exchange once the prices are available in a couple of weeks. Since you sound happy to stay away from the exchange I assume your income is too high for you to be eligible for a supplement.
|
So to get actual rates, I have to apply to for ACA and "I ain't going there...."
Using the Kaiser estimator, the silver plan would be $330/month with a $6350 Deductible. My current plan is about $270/mo with a $2500 deductible...I also have my HSA.
You are correct, I'm happy to stay away from the ACA.
__________________
FIREd at 46, 8/31/11
|
|
|
10-01-2013, 07:20 AM
|
#13
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,331
|
Quote:
Originally Posted by REattempt
So to get actual rates, I have to apply to for ACA and "I ain't going there...."
Using the Kaiser estimator, the silver plan would be $330/month with a $6350 Deductible. My current plan is about $270/mo with a $2500 deductible...I also have my HSA.
You are correct, I'm happy to stay away from the ACA.
|
I also noted that I assume you are ineligible for a subsidy. Is that correct?
__________________
Idleness is fatal only to the mediocre -- Albert Camus
|
|
|
10-01-2013, 12:02 PM
|
#14
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,266
|
My current premium is about $200 a month higher than my subsidized exchange premium for a gold policy. But, my current coverage is also much better with a lower deductible, lower cap on my costs, and lower copays. So it all depends on just how healthy I will be in 2014.
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
|
|
|
10-01-2013, 12:10 PM
|
#15
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2009
Posts: 5,308
|
Quote:
Originally Posted by REattempt
So to get actual rates, I have to apply to for ACA and "I ain't going there...."
Using the Kaiser estimator, the silver plan would be $330/month with a $6350 Deductible. My current plan is about $270/mo with a $2500 deductible...I also have my HSA.
You are correct, I'm happy to stay away from the ACA.
|
Common sense says that you will be able to get quotes without committing to signing up on the exchanges. You may have to give info to get quotes but I would think that you wouldn't be compelled to actually sign up for coverage.
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|