My health insurance premium is going up 10.5% - too much? I am with Blue Shield in Ca

[Disappointed]

I have a Gold PPO policy through Covered California (not eligible for subsidy) with Blue Shield. My current premium is $1,226.26 per month for both of us. I received a notification today that my 2015 premium will be $1,350.74, an increase of 10.5%.

So far this year I have paid $2,046.48 in copay (no deductible - max OOP is $6,350), the insurance company has paid out $7,609.42. This is all mine, my wife has not utilized her benefits this year.

I am wondering if the 10.5% increase is because Blue Shield has paid out $7,609.42 or if this 10.5% is across the board.

I bought the Gold PPO policy to make sure that I have the largest physician and hospital networks possible.

Suggestions?

Mp



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[Accidental Retiree]

Dang! My bronze policy for 2, also Covered CA, is going to be over $1200 for 2015. That will be a 34% increase over current cost.

We might as well go for the gold!

 

[M Paquette]

I am wondering if the 10.5% increase is because Blue Shield has paid out $7,609.42 or if this 10.5% is across the board.

The increase will include the actuarial adjustment for aging, as you are a year older now, and an increase over the entire risk pool for your particular policy. The benefits you used don't affect the rate, other than how they are lumped in with the benefits collected by everyone else in your risk pool.

 

[Lakewood90712]

My Blue Shield COBRA PPO rates for 2015 are 10.5% higher, no age factor on the COBRA, so this increase must be about par for Blue Shield of California. Kaiser went up about 8 % for 2015.

I am lucking out , early next year will have subsidized retiree medical Blue Cross.

Covered CA members should expect changes the first few years , until the carriers figure out how to make a profit off the plans. Yes ,I did say profit. They are not in it for our benefit.

 

[SteveNU]

21% increase for 2015

Just got the numbers for next year for us. Here in Connecticut the premiums for the subsidized retiree health plan that I will be selecting went up 21% this year. And the deductible also went up $100 from $2500 to $2600.

The good news is that I am getting the "kids" (one who will be 26 next year and the other who has health insurance through his job) off of my plan so I can drop down to just a spouse and employee plan.

So after all that I will see a 17% decrease in my costs next year.