Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Healthcare Insurance Costs in Texas and the 2010 Law
Old 01-16-2012, 01:58 PM   #1
Thinks s/he gets paid by the post
DFW_M5's Avatar
 
Join Date: Sep 2003
Posts: 4,980
Healthcare Insurance Costs in Texas and the 2010 Law

The Fort Worth paper had a very interesting article the other day and it shed some light about why the rates in Texas are high vs other states, and that there are some cost controls in Obama care that I actually didn't realize existed.

There is a provision in the law that if a healthcare company has a g&a cost greater than 15 or 20% for a plan year, it must rebate the overage back to the policy holders. The article sites an example where NY collects 2x $s in premiums vs Texas, yet Texas will owe rebates 6X greater $ wise vs NY. It also points out that Texas regulators (aka crooks) are likely not to allow the rebates to go through as provided under Obama care.

I have always felt we are getting a screwing in Texas with what we have to pay for health insurance and that our regulators are corrupt.

Texas health insurance rebates are on the line | Mitchell Schnurman | Dallas Business, T...
__________________

__________________
DFW_M5 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 01-16-2012, 03:15 PM   #2
Full time employment: Posting here.
 
Join Date: Aug 2005
Posts: 942
Gee, what a surprise. Regulators looking out for big business instead of it's people.
__________________

__________________
modhatter is offline   Reply With Quote
Old 01-16-2012, 03:47 PM   #3
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
Texas is pretty well known for an environment that favors big business vis a vis employees and consumers. No shock there.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 01-16-2012, 04:20 PM   #4
Full time employment: Posting here.
 
Join Date: Dec 2010
Posts: 746
I'll add to the situation. My plan severely punishes its membership for going out of network. The only hospital in our county is out-of-network as are all of the doctors. One hospital in the neighboring county is in network; however, none of the doctors are in network. So I have to go to Shreveport for all my medical needs. I told my spouse if I have a life and death medical condition to put me in the car and get me across the Louisiana line. Then call an ambulance.

I'll go on Medicare in a few years and hopefully the life and death emergency thing doesn't have to be so drastic.

All said, I'm glad to have health insurance in retirement. It may be a little inconvenient to get to my healthcare providers right now; but, not having insurance would be a lot more inconvenient.
__________________
East Texas is offline   Reply With Quote
Old 01-16-2012, 04:48 PM   #5
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,072
Quote:
Originally Posted by East Texas View Post
I told my spouse if I have a life and death medical condition to put me in the car and get me across the Louisiana line. Then call an ambulance find me a bowl of gumbo.
FIFY
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-16-2012, 05:21 PM   #6
Full time employment: Posting here.
 
Join Date: Dec 2010
Posts: 746
Quote:
Originally Posted by East Texas View Post
I told my spouse if I have a life and death medical condition to put me in the car and get me across the Louisiana line. Then call an ambulance find me a bowl of gumbo.
Quote:
Originally Posted by REWahoo View Post
FIFY

Quote:
Originally Posted by East Texas View Post
I told my spouse if I have a life and death medical condition to put me in the car and get me across the Louisiana line. Then call an ambulance find me a cold beer.
Now it's really fixed!
__________________
East Texas is offline   Reply With Quote
Old 01-16-2012, 06:19 PM   #7
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
I am just waiting for someone to blame this insurance rip off situation on Obama, hence closing this thread !
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Old 01-16-2012, 06:23 PM   #8
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,072
Quote:
Originally Posted by obgyn65 View Post
I am just waiting for someone to blame this insurance rip off situation on Obama, hence closing this thread !
Thanks for dragging politics into the thread.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-17-2012, 11:14 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Quote:
Originally Posted by DFW_M5 View Post

I have always felt we are getting a screwing in Texas with what we have to pay for health insurance and that our regulators are corrupt.
Folks from Illinois might have little sympathy for you all......... Compared to our politicians and regulators, the Texas bunch are OK.

You'd have to be here to understand. The media portrayals of our near bankrupt pension funds, high taxes vs poor services, corrupt politicians and puppet regulators are highly understated. Otherwise, it's great.......
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 01-17-2012, 11:37 AM   #10
Full time employment: Posting here.
 
Join Date: Dec 2006
Location: chicago burbs
Posts: 559
Quote:
Originally Posted by youbet View Post
Folks from Illinois might have little sympathy for you all......... Compared to our politicians and regulators, the Texas bunch are OK.

You'd have to be here to understand. The media portrayals of our near bankrupt pension funds, high taxes vs poor services, corrupt politicians and puppet regulators are highly understated. Otherwise, it's great.......

Totally agree. I want out Illinois so badly but my wife will not hear of it. I keep suggesting nw Indiana.

Golfnut
__________________
golfnut is online now   Reply With Quote
Old 01-17-2012, 11:46 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Quote:
Originally Posted by golfnut View Post
Totally agree. I want out Illinois so badly but my wife will not hear of it. I keep suggesting nw Indiana.

Golfnut
Yep, I'd leave in a flash except for some anchors we can't seem to figure our way around involving a grandchild with special needs.

OP..... sorry for the thread highjack. Carry on everyone.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 01-17-2012, 11:51 AM   #12
Thinks s/he gets paid by the post
martyb's Avatar
 
Join Date: Nov 2006
Location: Bossier City
Posts: 2,182
Quote:
Originally Posted by East Texas View Post
I'll add to the situation. My plan severely punishes its membership for going out of network. The only hospital in our county is out-of-network as are all of the doctors. One hospital in the neighboring county is in network; however, none of the doctors are in network. So I have to go to Shreveport for all my medical needs. I told my spouse if I have a life and death medical condition to put me in the car and get me across the Louisiana line. Then call an ambulance.

I'll go on Medicare in a few years and hopefully the life and death emergency thing doesn't have to be so drastic.

All said, I'm glad to have health insurance in retirement. It may be a little inconvenient to get to my healthcare providers right now; but, not having insurance would be a lot more inconvenient.
Probably better med care & Dr.s in Shreveport anyhow... At least, that's what some of my friends over in Marshall tell me. I spend 1/2 my week in Bossier/Shreveport, so I might be somewhat prejudiced. I know one thing for sure...the 3 or 4 times I've used doctors down here in the Lufkin & Nacogdoches area, I've been disappointed. I always end up going back to the Shreveport area Dr.s Hey, while you're over there, might as well drop a few hundred $$ in our casinos....
__________________
“Change is the law of life. And those who look only to the past or present are certain to miss the future.”
-John F. Kennedy

“Hard work never killed anybody, but why take a chance?” - Edgar Bergen
martyb is online now   Reply With Quote
Old 01-17-2012, 02:29 PM   #13
Full time employment: Posting here.
 
Join Date: Dec 2010
Posts: 746
Quote:
Originally Posted by martyb View Post
Probably better med care & Dr.s in Shreveport anyhow... At least, that's what some of my friends over in Marshall tell me. I spend 1/2 my week in Bossier/Shreveport, so I might be somewhat prejudiced. I know one thing for sure...the 3 or 4 times I've used doctors down here in the Lufkin & Nacogdoches area, I've been disappointed. I always end up going back to the Shreveport area Dr.s Hey, while you're over there, might as well drop a few hundred $$ in our casinos....
Uh, that would be Bossier City, not Shreveport.... The only time I cross the bridge is when I need to go to Outdoor World - the official mother ship. Our doctor is on the southwest side of Shreveport so we come in on the Mansfield Highway. Then we tootle over to Olive Garden. Must make the most of a trip to the big city. We usually get gas at the WalMart on our way home because, for some weird reason, gas is cheaper in La than Tx. Oh, that just lends itself to so many comments.... <bracing for ReWahoo....>
__________________
East Texas is offline   Reply With Quote
Old 01-17-2012, 02:34 PM   #14
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,072
You buy gas in LA? I usually get it free after eating Cajun food. <rimshot>

Yep. like so many basics*, gas is more expensive in TX than most other states.

*I'd list a few but usually can't recall more than two...
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-18-2012, 12:25 PM   #15
Thinks s/he gets paid by the post
DFW_M5's Avatar
 
Join Date: Sep 2003
Posts: 4,980
Quote:
Originally Posted by youbet View Post
Folks from Illinois might have little sympathy for you all......... Compared to our politicians and regulators, the Texas bunch are OK.

You'd have to be here to understand. The media portrayals of our near bankrupt pension funds, high taxes vs poor services, corrupt politicians and puppet regulators are highly understated. Otherwise, it's great.......
Yep, its all relative. Aside from the crosses we bear in dealing with regulators (with some crosses being heavier than others), the part of the article that surprised me was the capping of adminstrative costs contained in Obamacare. I was not aware that any cost containment provisions were in there in any form, so that was a bit of a pleasant surprise to me, even if it ends up being usurped by states rights regulators. Given the NY vs TX example, I really wonder why things like this do not receive more media coverage. Nevertheless, I thought it was a good article.
__________________

__________________
DFW_M5 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


 

 
All times are GMT -6. The time now is 03:24 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.