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Old 11-08-2013, 11:37 AM   #21
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In general, retiree health care premiums may go up based on the experience of the group. So, if in one company, they spent an average amount for claims, the premium should stay roughly the same. If the claims expense was high, the insurer would require a higher premium.

It is important to remember that most mega-corp insurance is self-insured. That means the employer sets up a fund administered by the carrier. They negotiate the administration fee and the claims expense is added to that. Some plans look at the experience (claims expenses) prospectively - they forecast - and some look retrospectively - based on history.

Bottom-line, the experience of the group will drive the premiums. Obamacare requirements were priced in over the last two years.
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Old 11-08-2013, 01:46 PM   #22
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We actually saw a decrease in our health ins. costs this year. First time in 7 yrs. And our co-pays for drugs also decreased.
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Old 11-08-2013, 04:26 PM   #23
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We haven't received our 2014 info yet, but last year's increase was more than 15% so I'm expecting more of the same this year. Our retiree policies are employee only (no spouse or dependents options). Fortunately, we w*rked for the same megacorp so have the same insurance. DH was older when he ER'd so his is more subsidized than mine. I'm paying about $350/month and his is less, so I'm not complaining.
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Old 11-08-2013, 04:42 PM   #24
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Just got our retiree medical and dental costs for 2014 (we have subsidized retiree benefits from my company).

Our medical stayed the same and our dental went down slightly. Yup - I was shocked and very happy. Don't think that ever happened when I was working.....
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Old 11-09-2013, 01:33 AM   #25
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As to the covering dependents up to 26 under their parents plan per Obamacare, the law provides companies with a carveout for that benefit for retiree coverage as it only applies to active employee coverage, unless the company chooses to do it anyway out of the goodness of their hearts. Nevertheless, my megacorp would cover retiree dependents that were still in school up to age 26, but since my DW graduated, she fell off my plan.
I am aware that there is no requirement on retiree plans. Nonetheless, DH's megacorp elected to cover all children up to age 26 regardless of school status.
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Old 11-15-2013, 10:52 PM   #26
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Finally got my retiree insurance enrollment forms through. Lots of warnings of what might happen next year but for 2014 the same policy is available at a premium increase of 13.7%. The letter also gave an estimate of what they pay each year for health care. They are self insured, with BCBS doing the admin, and their costs are over $5m / year. I don't know how many retirees they have but they have ~500 employees. I'm expecting they will dump retirees In a year or 2, but I'm glad we have another year on their policy. This has been our most expensive year so far with a few, minor, health problems. Cost has been ~$11k, including premiums, and copays etc.
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Old 11-15-2013, 11:25 PM   #27
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Ours from MegaCorp went up $35 to $540/mo and dental $80 after 50% buy down.
$350 deductable/$4000 max out of pocket.
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Old 11-15-2013, 11:31 PM   #28
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Ours from MegaCorp went up $35 to $540/mo and dental $80 after 50% buy down. $350 deductable/$4000 max out of pocket.
I continue to be impressed by the health insurance deals mega corps give out.
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Old 11-16-2013, 07:33 AM   #29
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I continue to be impressed by the health insurance deals mega corps give out.
What that does not reflect is the 40% pay cut plus a frozen non COLA pension all the union employees took in my last four years there.

Now talking about good deals let me tell you about my Federally employed, paper pusher, no college degree brother making a six digit income plus bonuses in addition to receiving a COLA pension for the 22 years he was employed by a state government and his medical program.
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Old 11-16-2013, 09:55 AM   #30
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I continue to be impressed by the health insurance deals mega corps give out employees earned.
FIFY.
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Old 11-16-2013, 10:01 AM   #31
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I continue to be impressed by the health insurance deals mega corps give out.
Yep - these are really sweet deals compared to those of us in the individual market.
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