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Old 11-10-2011, 06:32 PM   #21
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Just when are $ impacts from that act supposed to to be really occurring?
They apparently occur as parts of the bill go into effect, some of which (such as allowing 26 yr olds to stay on their parent's policies) went into effect this year. Other provisions (such as mandating coverage) go into effect in coming years.
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Old 11-10-2011, 06:36 PM   #22
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Per month? year? you do not say...
Per month!! My yearly is now $10,872
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Old 11-10-2011, 07:45 PM   #23
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When I retired in 06 my 5000 DD family coverage was $362./mo. for the 4 of us. It is now $832.......This is with Aetna

There has to be a breaking point on these monthly charges.
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Old 11-10-2011, 08:57 PM   #24
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[QUOTE=SkisALot;1129309]
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The letter attributed the change to my policy not being grandfathered and subject to the new law.

Please clarify. It is my understanding that if a policy is NOT grandfathered it IS subject to the new law. The letter I received from my insurance company stated that because my policy is grandfathered, it is not subject to the new rules* and that if I changed policies I would lose this status and would then pay more in premiums. Are you saying that if I changed and lost the grandfathered status that I would be in a larger pool and could potentially pay less?

*The letter I received last year from my insurance company attributed some of the increase in premium to the fact that I was subject to the new rules. A lot of contradictions going around.
I bolded the answer in my previous post and will clarify now. My policy is not grandfathered as I moved to a higher deductible last year. Since it is not grandfathered it is subject to the new law I got the additional benefits this year without a premium increase yet (please see the remainder of my previous post for the insurance companys premium statement)
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Old 11-10-2011, 09:07 PM   #25
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Someone has yet to tell me how forcing health insurance companies to take on 40-50 million new insured and accept all pre-existing conditions, while heaping on whole new helping of regulations going to make things cheaper.

Just as no one has told me how so many other countries have at least as good, if not better, medical outcomes at a MUCH lower cost per person and with considerably less inflation year after year.

There are a lot of moving parts involved here.
There is a lot of meat in these two posts.
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Old 11-11-2011, 05:12 PM   #26
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chap 38 referred to is for a law in the State of NJ, not the federal law....the section in question says: The rating system shall provide that the premium rate charged by the carrier for the highest rated individual or class of individuals shall not be greater than 350% of the premium rate charged for the lowest rated individual or class of individuals purchasing the same individual health benefits plan. The rate differential among the premium rates charged to individuals covered under the same individual health benefits plans shall be based on the actual or expected experience of persons covered under that plan; provided, however, that the rate differential may also be based upon age. The factors upon which the rate differential is applied shall be consistent with regulations promulgated by the commissioner, which shall include age classifications established, at a minimum, in five-year increments. There may be a reasonable differential among the premium rates charged for different family structure rating tiers within an individual health benefits plan or for different health benefits plans offered by the carrier.

The core of this is a limit of 3.5x between highest and lowest rates, and allows for age rating based on five year tiers. So a person who is 50 this year should see the same rates for the next five years, absent general rate increases.

Most states allow age banded rating tiers. Also, as people age they have more health problems, so if you are a for profit company, you want to link what you charge to the sections of your population of insureds who generate claims.
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Old 11-11-2011, 05:28 PM   #27
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Oh this is less than thrilling... my COBRA coverage ($475) ends Jan. 31 and I'm shopping for a policy to cover me for the 16 months until I can go on medicare. I haven't applied yet - so no quotes so far. I planned for it to be hideously expensive so if it's less than my worst case scenario I'll be happy (sort of). I will hit Medicare 6 months before 2014 when most of the new provisions go into effect.
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Old 11-14-2011, 01:08 PM   #28
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Oh this is less than thrilling... my COBRA coverage ($475) ends Jan. 31 and I'm shopping for a policy to cover me for the 16 months until I can go on medicare. I haven't applied yet - so no quotes so far. I planned for it to be hideously expensive so if it's less than my worst case scenario I'll be happy (sort of). I will hit Medicare 6 months before 2014 when most of the new provisions go into effect.
Rates drop drastically if you are willing to carry a high deductible. Be sure to use a broker. They are free and they can be of great assistance in the crazy world of individual health insurance.
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Old 11-14-2011, 05:39 PM   #29
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Originally Posted by thinker25
Oh this is less than thrilling... my COBRA coverage ($475) ends Jan. 31 and I'm shopping for a policy to cover me for the 16 months until I can go on medicare. I haven't applied yet - so no quotes so far. I planned for it to be hideously expensive so if it's less than my worst case scenario I'll be happy (sort of). I will hit Medicare 6 months before 2014 when most of the new provisions go into effect.
I suggest you dont delay too long as you never know what snag might occur at the end. If you go to ehealthinsurance, you can put in your age and where you live and you can get an idea of how much a person in excellent health will pay at your age and location. If I remember correctly you can go out to 90 days to set your initial date of coverage, so you are inside that number now. Best of luck!
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