My health insurance rates are going up 13.5%

[dm]

Just got the wonderful news that my premium is going to $1330 per month for the wife and I. That's a 13.5% increase. I though rates were suppose to be dropping.

I'm starting to wonder about the ex-pat life.

 

[gardenfun]

Got a letter from Aetna a couple months ago saying they would no longer offer individual policies in California on January 1. No big surprise, that's when ACA kicks in.

But then last week I got a letter from them telling me my premiums are going up 15%!! for the months of November and December (my policy starts on November 1 each year). sheesh. Raising premiums (15%) for two lousy months.

 

[Mulligan]

Got a letter from Aetna a couple months ago saying they would no longer offer individual policies in California on January 1. No big surprise, that's when ACA kicks in.

But then last week I got a letter from them telling me my premiums are going up 15%!! for the months of November and December (my policy starts on November 1 each year). sheesh. Raising premiums (15%) for two lousy months.

I noticed that a few insurance companies that will not join my states exchange will offer underwritten plans through next December. If Anthem doesn't do this for me in the next month, I am jumping to another company for a year to delay the premium pain increase from Obamacare.

 

[sheehs1]

Mulligan...I received a letter from Anthem in Virginia this week stating that since my "individual" policy renews September 2013, I am able to keep my current policy for another year until it renews next Sept. 2014. My premiums went up 11%. That is not any more than in any other given year the last few years. Hope Anthem does the same in your state and if so that you get your letter soon.
Anthem is not saying much here. Won't answer any questions saying they want to be careful about any information given out at this time. Virginia is not developing it's own exchange. It will be the Federal government's exchange or what ever it is.

 

[Mulligan]

Mulligan...I received a letter from Anthem in Virginia this week stating that since my "individual" policy renews September 2013, I am able to keep my current policy for another year until it renews next Sept. 2014. My premiums went up 11%. That is not any more than in any other given year the last few years. Hope Anthem does the same in your state and if so that you get your letter soon.
Anthem is not saying much here. Won't answer any questions saying they want to be careful about any information given out at this time.

I hope you are right Sheehs. I would rather not mess with starting a new plan for a year. There is a news blackout in MO on the subject. Anthem I know is going "all in" on the exchange, but hasn't stated about allowing the plans to continue for another year. Our state isn't allowed to get involved. Voters overwhelming a couple years ago rejected running an exchange and will not allow the state to get involved at all in the process.

 

[UtahSkier]

My health insurance company, United Health, doesn't communicate with letters and such. They just raised my rates (high deductible plan) 23% for the last 5 months of 2013.

Unfortunately, they are still much cheaper than what I am expecting to pay for a Bronze plan in 2014.

 

[heirloom]

I'm under my company insurance for one more yr.....then medicare. I was talking to our lady in charge of the insurance to see what our rates will be and the insurance company still hasn't come up with any yet. Wonder if it is going to be a large increase. Don't forget, this lady doesn't get COLA increases in her pension.

After reading Ha's post regarding medicare, I don't think I'm that crazy about it anymore. Retirees used to be able to use our company insurance as a backup, but starting next yr. we will no longer be able to use their insurance because it is too exp.

Oh well....gotta go fishing next year.

 

[tomz]

We have a high deductible plan from Blue Cross of Florida and just received the letter that for Oct., Nov., and Dec., our rates are going up 33%. Reason: medical costs are increasing and we're getting older. As far as I am concerned, the ACA can't come soon enough. (Rates went up about 21% last year.)

 

[Mulligan]

Mulligan...I received a letter from Anthem in Virginia this week stating that since my "individual" policy renews September 2013, I am able to keep my current policy for another year until it renews next Sept. 2014. My premiums went up 11%. That is not any more than in any other given year the last few years. Hope Anthem does the same in your state and if so that you get your letter soon.
Anthem is not saying much here. Won't answer any questions saying they want to be careful about any information given out at this time. Virginia is not developing it's own exchange. It will be the Federal government's exchange or what ever it is.

Well, I decided to exercise an effort in futility and mission was accomplished. Just got off the phone with Anthem. And of course all I got was "if something changes in your plan we will let you know". They would not confirm it is in effect for next year. I translate that into they are going to screw me over and force me into the exchange come Jan.1 when it's too late to do anything. So I am going to sign up for another carrier this weekend. The same plan is $50 a month higher than I am currently paying, but I would rather pay $125 through next year, than $350 plus through the exchange.

 

[sheehs1]

Mulligan..when is your typical renewal date?
Am wondering if I got the letter from Anthem because my renewal date is Sept 1 which is prior to Oct 1 when exchanges supposedly open. Who really knows. This is all going to be a mess for a while.

 

[Mulligan]

Mulligan..when is your typical renewal date?
Am wondering if I got the letter from Anthem because my renewal date is Sept 1 which is prior to Oct 1 when exchanges supposedly open. Who really knows. This is all going to be a mess for a while.

Well my renewal date was July 1. But in no way shape or form did it mention it was guaranteed for a year, let alone through Dec. 2014. Anthem is going "all in" in MO partnering with Walgreens to get the word out. I believe this is code for drop existing policies and roll them all into the exchange as they will have little competition in our state for the initial first year, anyways. Why collect my $88 premium next year when they can rake in $300-$400 a month from me for essentially the same policy. Why is would they maintain their silence this late in the game if it wasn't their plan, at least in my state. I will start the application process and let it play out a few weeks. If my gut is correct, I will never buy from them again....unless of course it is the cheapest policy on the exchange.

 

[W2R]

Mulligan, my sympathies and I hope this tactic works and that you are not jumping out of the frying pan into the fire. OK, I am a worrier....

 

[timo2]

apparently we are in for a period of rate instability as we switch from the free-for-all to Obamacare. (I have this bad habit of stating the obvious).

 

[Mulligan]

Mulligan, my sympathies and I hope this tactic works and that you are not jumping out of the frying pan into the fire. OK, I am a worrier....

I am stubborn, W2R! I could have stayed on my group plan to Medicare when I retired, but it was $500 vs. $73. Better policy but I needed none of it, so I went into the individual market. Then Obamacare was passed and they backdated policies to being grandfathered to March of that year instead of September when the law was passed. So that negates my grandfathered status which is probably a moot point anyhow as those will disappear. I have saved over $20,000 in health costs including HSA tax deduction, the past few years, but it looks like that party is over. Every year, I have actually made a small profit paying for health insurance when allowing for HSA tax deduction. Money actually coming out of my pocket to pay for health insurance is a strange concept that I am not used to.

 

[dm]

I'm in Missouri also. We are still on the wifes healthcare plan from work, we can stay on it, but have to pay the full premium. This is with United Health Care, they recently changed from Anthem.

We will probably stay on it for at least another year and see how things shake out in the exchanges.

 

[sheehs1]

Mulligan, I re read my letter and this is how they did it.
It says:
"... the new health care law changes will require termination of the existing products under which you are enrolled as of the first policy year that begins Jan 1, 2014. Because our policies have not designated a policy year before, federal law would require us to treat Jan 1, 2014 as the start of your policy year, and thus the date that your product must change to comply with the 2014 product design and rating rules.
However, to give you the opportunity to retain your existing coverage for a longer period of time, we have enclosed an endorsement which for the first time defines a policy year for your policy. The policy year has been defined so that your 2013 policy year will begin on your 2013 premium renewal date and end one year later. With this endorsement, the coverage under this policy will terminate on your first renewal date in 2014. This will give you the opportunity to retain your coverage for the full 12 months of your renewal period.
Anthem is making this change to preserve as many options for you as possible as 2014. approaches. You will have the ability during the open enrollment period for 2014 products that begins October 1, 2013 to shop for those products. They may be a better fit for you, because of coverage rate, or the opportunities for federal subsidies for products available on the public exchange. However, with this endorsement, if you find that the public offerings for 2014 do not meet your needs, you can retain your existing coverage until your first renewal date in 2014. "

In other words, they are defining for the first time what the technical "policy year" is, wrote and provided me with the endorsement. Until now, the verbiage simply stated "renewal date". By writing the endorsement and clarifying "policy year" they are giving us, at least here in Va., the option of being able to have the same coverage for one more year. Seems to me the law provided for this but in order to make sure they were compliant with the law, they wrote the endorsement.
Am hoping it helps you to know exactly what the change was to allow Anthem in Va to do this. I'm still crossing my fingers you get this same letter.

 

[pb4uski]

If your existing policy is better/cheaper and you can buy coverage from your first renewal date in 2014 to Dec 31, 2014 then that sounds like a good option.

 

[sheehs1]

I think so pb4uski...but won't really know until the exchanges are operable...

 

[Mulligan]

I think so pb4uski...but won't really know until the exchanges are operable...

If your plan is an underwritten one, sheehs, I will bet a $100 to your $1 dollar your present plan will be cheaper by a consider amount despite the current increase. If memory serves me correctly Virginia was in a select group of states including MO, Ohio, and Texas that are going to get some rate shock. Ohio has proven to be true already. I would hope I will get the letter, but if you have and I haven't I think that is not a good sign. I know the Anthems and BC/BS are doing various things in various states. In some they have pulled out and are not even offering a plan in the exchanges next year.

 

[sheehs1]

I did go thru underwriting for this policy. I'm guessing you are correct so I won't take you up on that bet!
Good luck Mulligan and to all of us watching these rates. I may have a slight reprieve but it won't last long.

When I consider what my husband and I will possibly and collectively pay for health care, I choke. No way will we get subsidies. I've been reading the thread on how to lower one's MAGI and there is just no way. In order to do so he would have to shut down over half of his business and I would have to not accept K1 income from family business (which legally can't happen since it is sub-s), change my investments entirely so as not to produce tax free income,etc.etc.etc.

 

[sheehs1]

I'm under my company insurance for one more yr.....then medicare. I was talking to our lady in charge of the insurance to see what our rates will be and the insurance company still hasn't come up with any yet. Wonder if it is going to be a large increase. Don't forget, this lady doesn't get COLA increases in her pension.

After reading Ha's post regarding medicare, I don't think I'm that crazy about it anymore. Retirees used to be able to use our company insurance as a backup, but starting next yr. we will no longer be able to use their insurance because it is too exp.

Oh well....gotta go fishing next year.

I agree heirloom. I don't think Medicare will be the place to be....but maybe there will be more changes by then.

 

[Mulligan]

I did go thru underwriting for this policy. I'm guessing you are correct so I won't take you up on that bet!
Good luck Mulligan and to all of us watching these rates. I may have a slight reprieve but it won't last long.

When I consider what my husband and I will possibly and collectively pay for health care, I choke. No way will we get subsidies. I've been reading the thread on how to lower one's MAGI and there is just no way. In order to do so he would have to shut down over half of his business and I would have to not accept K1 income from family business (which legally can't happen since it is sub-s), change my investments entirely so as not to produce tax free income,etc.etc.etc.

Well Sheehs, I am not waiting for Anthem to screw me over. I just completed my health app through Coventry over the phone set up for Oct. 1. Same policy with price difference of $5 ($93) monthly. I am set through next year. I will gladly pay $5 a month more to escape the $300 a month increase for next year though.

 

[sheehs1]

Congratulations Mulligan for getting out of the fray for one more year! I would have done the same! We all might need more time to digest what is going to happen come Oct 1 and Jan.1 2014. (At least those of us who won't qualify for any subsidies)

 

[foxfirev5]

Fasten your seatbelts kiddies it's going to be a bumpy ride. When I get down to it this is the number one, two and three reason why I don't RE now. Currently my healthcare thru megacorp is too good to ignore. The job is easy so we'll see how it works out.

 

[Mulligan]

Congratulations Mulligan for getting out of the fray for one more year! I would have done the same! We all might need more time to digest what is going to happen come Oct 1 and Jan.1 2014. (At least those of us who won't qualify for any subsidies)

Any person who is living in an underwritten state that currently is healthy would be making a mistake in my opinion for not confirming that their policy will be in effect through next year. If it isn't, it is worth the time to save the money for another year, and join a plan that will.