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Happy Birthday, your rate just increased
10-22-2011, 08:10 PM
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#1
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2008
Posts: 13,150
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Happy Birthday, your rate just increased
I got a letter from BCBS saying the rate in my premium just got an adjusted rate increase because I'm about to hit one of their "magic number" (my sacastic phrasing, not their wording) birthdays which go pretty much at 5 year intervals (for example, 50, 55, 60, etc.)
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
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10-23-2011, 07:00 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2008
Posts: 12,660
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I know this happens with term life insurance (it's nature's way of telling you that you are now of an age to drop the policy, and be self-insured) but I never heard of age-related premiums with health insurance.
A.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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10-23-2011, 07:06 AM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2008
Posts: 13,150
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Increase of $42/month. My monthly payment will increase from about $170 to $212. Still manageable, but that's about a 25% increase.
Plus, I see, when the new year comes along, I'll probably be hit again with the regular annual rate increase.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
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10-23-2011, 07:15 AM
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#4
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Full time employment: Posting here.
Join Date: Jan 2008
Posts: 848
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I also have BCBS, I hit a 'magic number' this year and my insurance went up 28%. Ouch.
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10-23-2011, 08:20 AM
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#5
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,726
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This is not new. My current plan has the following age related increases
Age ......... 25/30/35/40/45/50/55/60
% increase 25/27/28/23/27/37/30/35
Rate for a 24 year old: $193 rate for a 63 year old: $1509
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10-23-2011, 09:02 AM
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#6
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gone traveling
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
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OTOH, if you did not get an increase, it might be that you are "on the other side of the dasies".
Be thankful for where you are  ...
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10-23-2011, 10:25 AM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2009
Posts: 9,343
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 Quote:
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Originally Posted by MichaelB
This is not new. My current plan has the following age related increases
Age ......... 25/30/35/40/45/50/55/60
% increase 25/27/28/23/27/37/30/35
Rate for a 24 year old: $193 rate for a 63 year old: $1509
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Some things are better left unsaid  I just started the individual premium market 2 years ago at 45. Was aware of age bands, but not the dates or "presents" associated with the birthday. I guess I may be possibly looking at a "hell of a gift" on my 50 th birthday! I wonder why they hit 50 harder than 55 or 60. What happened to 50 being the new 40?
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10-23-2011, 10:59 AM
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#8
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,726
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Quote:
Originally Posted by Mulligan
Some things are better left unsaid I just started the individual premium market 2 years ago at 45. Was aware of age bands, but not the dates or "presents" associated with the birthday. I guess I may be possibly looking at a "hell of a gift" on my 50 th birthday! I wonder why they hit 50 harder than 55 or 60. What happened to 50 being the new 40? |
Why the big hit for men at 50? I have no clue. It could be ... (insert witty remarks here)
I only included my rate. For women it is different. Reposted with both:
Age ..................... 25/30/35/40/45/50/55/60
% increase male .....25/27/28/23/27/37/30/35
% increase female ..31/16/00/03/18/21/18/19
Rate for a 24 year old male: ..$193 ..rate for a 63 year old: $1509
Rate for a 24 year old female: $443 ..rate for a 63 year old: $1377
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10-23-2011, 12:03 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Jan 2007
Location: Silicon Valley
Posts: 1,812
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I would imagine that the rate is so different at 24 for the sexes because they are prime child-bearing years.
__________________
I be a girl, he's a boy. Think I maybe FIRED since July 08. Mid 40s, no kidlets. Actually am totally clueless as to what is going on with DH.
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10-23-2011, 07:58 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 2,472
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My policy renewed in 10/10, 6 months later, at 60 it went up 11% with BCBS.
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