Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Help! My health Ins is about to double!
Old 11-11-2015, 07:04 PM   #1
Recycles dryer sheets
 
Join Date: Oct 2015
Posts: 184
Help! My health Ins is about to double!

This frankly has me pissed off beyond belief, especially when I think back to Obama's promises on Health Ins. Like many, my policy goes away this year and I need a replacement. The closest policy I can find that is similar to what I had (new policy is actually inferior) is almost double what I have in 2015!! Just pisses me off!!

Ok, now that I have had a cocktail and settled down, I know some of you have navigated this BS system and found a program that works cost effectively. My situation....
- make too much $$, no discount
- mom & dad (me) are healthy 51 yr olds
- still have 2 kids on the policy, healthy

I have always been a catastrophe policy kind of guy, pay for the little stuff, protect on the big stuff, keep premium low. Now it appears my premium will almost double and my policy covers less. I have yet to meet anyone who says Obamacare is a better program for them, but maybe I am just a rich bastard who needs to be taxed more!! Any suggestions??
__________________

__________________
DawgMan is offline   Reply With Quote
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!

Old 11-11-2015, 07:35 PM   #2
Recycles dryer sheets
 
Join Date: Jul 2013
Posts: 103
I haven't found any way around it, short of paying the penalty and forgoing insurance altogether. It would be nice if catastrophic policies still existed.

My parents are just over the ACA credit limit, and as a result they have to pay 17% of their GROSS income on health insurance. With a $13,500 deductible.
__________________

__________________
zesty is offline   Reply With Quote
Old 11-11-2015, 07:47 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
That's pretty much the trend. For myself, a couple of years ago, I had a cheaper policy but limited network (found out later during the year, my doctor must have dropped out of network as he was in when I signed up). So last year, I signed up for a better policy (PPO) with my doc in-network, but the premium was about twice as much as the year prior. Now this policy is dropped in 2016 and the default is to a watered down policy, limited coverage, but at a price close to what I paid for the good PPO plan.
__________________
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
easysurfer is offline   Reply With Quote
Old 11-11-2015, 07:57 PM   #4
Dryer sheet aficionado
 
Join Date: Jun 2011
Location: The mountain west
Posts: 35
Our deductible is $10K, out of pocket is $13,900. It's a Bronze HDHP, and it's awful. Nothing even close to what we had with our employer policy. And why? It's the same hospitals, same doctors, same everything. Ugh, makes me absolutely crazy.

We no longer have a health care plan, all we have is a health insurance plan.
__________________
If you want to go fast, go alone
If you want to go far, go together
~African proverb
WestcoastRN is offline   Reply With Quote
Old 11-11-2015, 08:02 PM   #5
Recycles dryer sheets
 
Join Date: Jul 2013
Posts: 103
Quote:
Originally Posted by WestcoastRN View Post
We no longer have a health care plan, all we have is a health insurance plan.
Exactly, with costs like that people treat it as insurance and not care.
__________________
zesty is offline   Reply With Quote
Old 11-11-2015, 08:12 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Quote:
Originally Posted by DawgMan View Post
I have yet to meet anyone who says Obamacare is a better program for them
I think some of the 16.5 million people now insured might be happier with health insurance than none at all:

"The number of American adults without health insurance fell 16.5 million from five years ago, when Obamacare was signed into law, the largest drop in four decades, a new report says."

Uninsured rates drop dramatically under Obamacare

Our premiums are much lower, even pre-subsidy amounts for a better policy than we had before with a much lower deductible.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is online now   Reply With Quote
Old 11-11-2015, 08:34 PM   #7
Full time employment: Posting here.
 
Join Date: Jul 2013
Location: San Diego
Posts: 700
Quote:
Originally Posted by daylatedollarshort View Post
I think some of the 16.5 million people now insured might be happier with health insurance than none at all:

"The number of American adults without health insurance fell 16.5 million from five years ago, when Obamacare was signed into law, the largest drop in four decades, a new report says."

Uninsured rates drop dramatically under Obamacare

Our premiums are much lower, even pre-subsidy amounts for a better policy than we had before with a much lower deductible.
We're happy too.

Just got back from a little emergency laser retina surgery* for DH, you never know when bad stuff is going to happen.

* And when you play tennis on a cloudy day, wear goggles.
__________________
AllDone is offline   Reply With Quote
Old 11-11-2015, 08:45 PM   #8
Thinks s/he gets paid by the post
 
Join Date: May 2006
Location: Largo
Posts: 1,945
Prior to Obamacare, you might not have been able to get insurance at ANY price if you had had even a small health event. It didn't take much to get denied coverage on the individual market. Guaranteed access to coverage is a godsend to many.
__________________
Buckeye is offline   Reply With Quote
Old 11-11-2015, 08:55 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,376
Quote:
Originally Posted by Buckeye View Post
Prior to Obamacare, you might not have been able to get insurance at ANY price if you had had even a small health event. It didn't take much to get denied coverage on the individual market. Guaranteed access to coverage is a godsend to many.

I going to take a guess and say Dawgman was used to underwritten policies. The reason why it was so much cheaper Dawgman was because they didn't accept unhealthy people which kept premiums down. BTW- Mine TRIPLED in price. But there were a lot of games insurance companies could play even with underwritten plans that could have got you eventually in a worse bind than ACA premiums.


Sent from my iPad using Tapatalk
__________________
Mulligan is offline   Reply With Quote
Old 11-11-2015, 08:55 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Many here would not even be able to retire early without the ACA and removal of the pre-existing conditions clause. How many households with adults ages 40 - 50+ do not have at least some medical condition they would have been denied coverage for in the past, like high blood pressure? Ironically, a friend of ours with medically controlled high blood pressure had to go back to work and cut his ER plans short when he could not get health insurance at any price, pre-ACA.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is online now   Reply With Quote
Old 11-11-2015, 09:01 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Apr 2013
Posts: 5,570
Quote:
Originally Posted by daylatedollarshort View Post
Many here would not even be able to retire early without the ACA and removal of the pre-existing conditions clause. How many households with adults ages 40 - 50+ do not have at least some medical condition they would have been denied coverage for in the past, like high blood pressure? Ironically, a friend with high blood pressure had to go back to work and cut his ER plans short when he could not get health insurance, pre-ACA.
You're are describing my situation. I could not get health insurance at any price because of blood pressure and cervical spine issues. I would be stuck working to medicare age without aca.

Health insurance costs have and continue to skyrocket. One thing I know, insurance companies seldom go broke.
__________________
MRG is offline   Reply With Quote
Old 11-11-2015, 09:07 PM   #12
Dryer sheet aficionado
 
Join Date: Jun 2011
Location: The mountain west
Posts: 35
Don't get me wrong, I am very, VERY, grateful the United States has finally some semblance of a health care program that doesn't punish/deny people insurance coverage for cancer, diabetes, heart disease, or any other diagnosis to no fault of their own. It's a start, and something that should have happened a long time ago.
__________________
If you want to go fast, go alone
If you want to go far, go together
~African proverb
WestcoastRN is offline   Reply With Quote
Old 11-11-2015, 09:08 PM   #13
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,860
After reading the above posts, I'm just so glad that I qualify for Medicare now.

Getting old is not so great, while better than the alternative, but at least we get Medicare.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 11-11-2015, 09:09 PM   #14
Recycles dryer sheets
Rosie's Avatar
 
Join Date: Jun 2010
Location: NorCal
Posts: 360
Quote:
Originally Posted by MRG View Post

Health insurance costs have and continue to skyrocket. One thing I know, insurance companies seldom go broke.
Maybe insurance companies should be taken out of the equation?

__________________
Doing nothing is underrated.
Rosie is offline   Reply With Quote
Old 11-11-2015, 09:14 PM   #15
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 1,905
Quote:
Originally Posted by DawgMan View Post
This frankly has me pissed off beyond belief, especially when I think back to Obama's promises on Health Ins. Like many, my policy goes away this year and I need a replacement. The closest policy I can find that is similar to what I had (new policy is actually inferior) is almost double what I have in 2015!! Just pisses me off!!

Ok, now that I have had a cocktail and settled down, I know some of you have navigated this BS system and found a program that works cost effectively. My situation....
- make too much $$, no discount
- mom & dad (me) are healthy 51 yr olds
- still have 2 kids on the policy, healthy

I have always been a catastrophe policy kind of guy, pay for the little stuff, protect on the big stuff, keep premium low. Now it appears my premium will almost double and my policy covers less. I have yet to meet anyone who says Obamacare is a better program for them, but maybe I am just a rich bastard who needs to be taxed more!! Any suggestions??
Well, meet me as someone who KNOWS that Obamacare is a much better program, for the simple reason that I could not find a private health insurance plan that would insure me or my wife due to pre existing conditions. And believe me, I tried. High blood pressure in my case, carpal tunnel in my wife's case. It sounds kind of silly for those two simple conditions but such was the case in the pre Obamacare world.
__________________
ejman is offline   Reply With Quote
Old 11-11-2015, 09:43 PM   #16
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 2,676
Our experience is the opposite of the OP even though we had no pre-existing health issues.

We lived in NJ when we ER'd and got individual policies. NJ was a community rating state, but did not mandate insurance for everyone. While everyone qualified for insurance and paid the same age-adjusted premium, only the sick and those with wealth to protect (and no company insurance) were in the pools. The result - high premiums.

I just checked 2016 plans in NJ (since we now live in CO), and premiums for a bronze plan (similar to the plan we had back then) are a little less than we paid in 2010 and we're 5 years older.

Quote:
Suggestions?
Get a bronze plan. If you look around these forums, there was a spreadsheet that someone created that showed what your total cost (premiums + out of pocket) would be for various medical expense totals for the year. For healthy people with low predicted medical needs and no subsidy, the bronze plans always came on top.
__________________
walkinwood is offline   Reply With Quote
Old 11-11-2015, 09:58 PM   #17
Recycles dryer sheets
 
Join Date: Apr 2010
Posts: 412
Quote:
Originally Posted by WestcoastRN View Post
Our deductible is $10K, out of pocket is $13,900. It's a Bronze HDHP, and it's awful. Nothing even close to what we had with our employer policy. And why? It's the same hospitals, same doctors, same everything. Ugh, makes me absolutely crazy.

We no longer have a health care plan, all we have is a health insurance plan.
i think it's comparing apple and oranges...
__________________
“The problem with the world is that the intelligent people are full of doubt, while the stupid people are full of confidence.”

(—Charles Bukowski)
wanaberetiree is offline   Reply With Quote
Old 11-11-2015, 10:09 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
Quote:
Originally Posted by W2R View Post
After reading the above posts, I'm just so glad that I qualify for Medicare now.

Getting old is not so great, while better than the alternative, but at least we get Medicare.
I remember a time planning for ER and the discussion was "Who knows if Medicare and Soc Security will be around?" Those were the days I guess of hoping to stay long enough at a company to get retirement health insurance from megacorp. Now, medicare is sort of considered the gold standard .

I do see the two points about pre vs post ACA. I'm one of the folks who don't have a pre-existing condition so was fortunate enough to get affordable, good coverage insurance when I FIRE'd even with underwriting. So, for me, in comparison, the coverage and rates are worse than the good old days. Yet, at the same time, I'm happy those who couldn't get any insurance in the past now can.
__________________
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
easysurfer is offline   Reply With Quote
Old 11-11-2015, 10:43 PM   #19
Dryer sheet aficionado
 
Join Date: Jun 2011
Location: The mountain west
Posts: 35
Quote:
Originally Posted by wanaberetiree View Post
i think it's comparing apple and oranges...
Sorry, I had not meant to insinuate I was comparing the two. You can't compare a Bronze HDHP to an employer HDHP. They are two totally different animals.
__________________
If you want to go fast, go alone
If you want to go far, go together
~African proverb
WestcoastRN is offline   Reply With Quote
Help! My health Ins is about to double!
Old 11-11-2015, 10:50 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,376
Help! My health Ins is about to double!

Quote:
Originally Posted by easysurfer View Post
I remember a time planning for ER and the discussion was "Who knows if Medicare and Soc Security will be around?" Those were the days I guess of hoping to stay long enough at a company to get retirement health insurance from megacorp. Now, medicare is sort of considered the gold standard .



I do see the two points about pre vs post ACA. I'm one of the folks who don't have a pre-existing condition so was fortunate enough to get affordable, good coverage insurance when I FIRE'd even with underwriting. So, for me, in comparison, the coverage and rates are worse than the good old days. Yet, at the same time, I'm happy those who couldn't get any insurance in the past now can.

I also enjoyed very low premiums. Never used it the four years I owned it before ACA kicked in. However on this forum I learned several tricks insurance companies did even when approved for an underwritten policy. Although we use the term individual plans, we were actually assigned a "group". They could close the assigned group down, for new people and let the existing group start to age out and thus increase claims that would result in higher premiums. You could then reapply for new coverage to get the current market low premium, but if something health wise happened to you prior, you were stuck in "the group" with escalating premiums. The healthy ones would flee into a "new group" by undergoing underwriting again. Very sneaky...I never got that far along to find out if it would ever hit me, but buried in the paperwork I did see that I did indeed was assigned a "group" in my individual policy.
This could have been problematic. I could write a whole page on some of the tools they used that I have since read about.


Sent from my iPad using Tapatalk
__________________

__________________
Mulligan is offline   Reply With Quote
Reply


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
Personal experience: work ins. to ACA ins. Fermion Health and Early Retirement 9 03-31-2015 07:26 PM
The New Health Care Law, Health Ins & 'New Plans' dex FIRE and Money 14 06-28-2010 07:36 AM
After Health Ins. is fixed; Then Auto ins.- same % uninsured dex Health and Early Retirement 17 06-25-2009 08:29 PM
RE: the post about health ins, credit and health Fireup2020 Health and Early Retirement 13 02-24-2007 04:12 PM

 

 
All times are GMT -6. The time now is 12:39 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.