Poll - ACTUAL non-subsidized heatlh care cost in ER.

[Rich_by_the_Bay]

...I suspect that the "insurance troll" will never get a chance to read your comments since he only has time to monitor comments in 1-2 threads at a time 24 hours a day for new posts...come to think of it, he didnt start posting until Rich started his new board....

By the way, since accuracy is a critical and highly valued part of every discussion on this issue, MKLD is a woman.

 

[cute fuzzy bunny]

So on top of everything else, you're cross dressing?

 

[kcowan]

It's just a ballpark figure. I'm estimating that 40% of my provincial taxes will go to healthcare and perhaps 5% of Federal taxes. $10,000 would cover it in my case because I have a very tax efficient structure and live in a province that does not charge healthcare premiums. Unlike Keith I am not counting anything for "sin" taxes since I am, of course, a saint!

Actually we are closer than you think. Because the sin taxes go into general revenues, and now that we are retired, we are able to minimize general taxation. But the sin taxes go on forever.

Also I may have overstated them because we spend 4 months each year somewhere else. But the $10,000 figure is probably a good one.

 

[Rustward]

--As of January 1, 2008 we will have COBRA for 18 months. Monthly premium for family is $1086 or roughly $13,000 a year. Deductible and copays as above.

--After COBRA expires July 1 of 2009 we will be on the Minnesota risk pool. If we were enrolled now, my premium would be $377/month and Greg's $466/month, each with a $1000 deductible, $200 of which is for drugs. Total premium cost per year is $10,116. Maximum out of pocket is $3000 per person. Premium depends on age and whether you smoke. We get older, but don't smoke.

Martha, you may consider this a highly personal question and I will understand if you choose not to answer it. Why are you going directly from COBRA to the risk pool?

 

[Sparky]

Two people: 48 and 49.
Catastrophic health insurance annual: $2,400
$5,000 deductible, no drug coverage.
Location: CT

 

[Khan]

Martha, you may consider this a highly personal question and I will understand if you choose not to answer it. Why are you going directly from COBRA to the risk pool?

I'm not Martha, but I imagine it's because there's no other option.

 

[mickeyd]

YIKES! This has been one of the most informative threads that I have ever read here. I knew that private insurance was expensive, even with high deductibles, but these numbers are staggering.

I have often said (in jest) that I consider my Tricare benefits as important to DW and I as the retirement money that military sticks in my checking account on the first of each month. Now, I really mean it.

 

[Martha]

Martha, you may consider this a highly personal question and I will understand if you choose not to answer it. Why are you going directly from COBRA to the risk pool?

Not insurable on the private market.

 

[tightasadrum]

Number of people: 3
Ages: 61,54,20
Annual premium: currently $7594, but goes up 15-25%/year**
Deductible: $2500 family/$1250 each person
Location: GA
Company: Aetna
Includes drug plan after first $30 per prescription
No dental, no optical

** The large annual cost increases are because it's a retiree medical plan. About 7 years ago the company announced that in order to retain medical coverage for retirees, they would no longer be adding additional money to the annual cost increases. The retirees must now foot all, or most, of the increases in the cost of the plan. After looking over what everyone is paying, I may be approaching the cost of independently purchased plans. The plan will go down after I hit 65 on medicare and DD is on her own. But DW may now be unable to purchase coverage at any price due to a very recent "pre-existing condition." I need to hold onto the policy I have no matter what it costs in the future. There's something wrong with a medical insurance system that only provides affordable coverage to people that don't need the coverage at all.

 

[Zipper]

Mr. Zipper (64) Ontario Health Premium $300.00./year.

Mrs. Zipper (59) Ontario Health Premium $300.00./year.

 

[clifp]

People 1
Age 48
Premium 175/month $2100 annual
Deductible Kaiser $20 copay for most things
Location Honolulu, HI.

The blue cross equivalent offered a HSA for $1100/year with a 3K deductible but I didn't qualify

 

[Johnphx]

These numbers blow me away.

I am stunned that people are paying 10k per year in premiums and still have huge deductibles.

I was recently told by an older retiree, that the single greatest reason he is thankful that he stayed in and retired from the military is Tricare.

That seems a bit of a sad commentary on our current system. The problem with the politicians that say they want to increase choice for health care consumers is that we don't get to neccasarily choose our insurance providers, they choose us.

 

[Gotadimple]

Health Insurance Providers

These numbers blow me away.

I am stunned that people are paying 10k per year in premiums and still have huge deductibles.

I was recently told by an older retiree, that the single greatest reason he is thankful that he stayed in and retired from the military is Tricare.

That seems a bit of a sad commentary on our current system. The problem with the politicians that say they want to increase choice for health care consumers is that we don't get to neccasarily choose our insurance providers, they choose us.

It isn't appropriate to compare federal benefit costs to private insurer costs. The federal government doesn't have to file their premium schedules with the local state insurance commissioner, maintain reserves with local state government, pay premium taxes, or business taxes. They also don't pay the claims -- but the do pay private industry to do that for them and hold them to the lowest cost arrangement they can negotiate.

You are correct that it is a sad commentary on how different private insurance is from group insurance. That's the power of bulk purchasing, and favorable/unfavorable legislation for group v. individual insurance.

-- Rita

 

[Donzo]

People 4
51, 46, 17, 14
$5035 yearly
$5000 deductable
One Dr visit covered per year - mammo.& pap. covered bi-annually.

 

[KB]

I changed my insurance in January and moved up a year.

Number of people: 1
Ages: 55
Annual premium: $3,108
Deductible: $2700 (HSA) Kaiser HMO
Location: California

 

[Johnphx]

I have noticed alot of people on this board have HSA accounts.

I find that interesting. I switched to a high deductible plan w/HSA in Jan '07 and talked about it with alot of co-workers.

I was a little taken aback at how many people are pretty much deadset against giving up their $20 copays regardless of the fact they are paying significant premiums and in alot of cases rarely if ever go to the doctor.

The one drawback I suppose is that since having my HSA plan, I have not gone to the doctor once, because I don't want to pay for it. Does anyone else find themselves not going in order to avoid tapping their HSA funds?

 

[megacorp-firee]

Number of people: 2
Ages: 62 and 64
Annual premium: $3955
Deductible: None. 20% copay and annual limit per person (e.g. $700) for each of dental, drugs, eyeglasses, etc.
Location: Vancouver, Canada

Includes travel insurance for multiple trips to US.

Estimated annual sin taxes paid to subsidize universal healthcare: $9980
(granted these are all discretionary but we are pretty sinful)

All USD at 5% exchange.

? I thought you all had FREE healthcare in Canada. What am I missing?

 

[KB]

I've had to go to the doctor and ER once each and got a few Rxs too. When I have a medical expense I just pay for it and let that dollar amount apply to my deductible. If I have something catastrophic where I meet my deductible, I'll consider tapping the HSA account. But for now, I'm not planning on tapping into it.

 

[megacorp-firee]

Number of people: 2
Ages: 57/57
Deductible: 1500
Annual premium: $8000
Deductible - $1500
Location: IL
COBRA policy. Company retiree policy would be $11,000 (same policy), which will be one of the options at the end of this year.

I think I need to look at higher deductibles.

 

[Delawaredave5]

That seems a bit of a sad commentary on our current system. The problem with the politicians that say they want to increase choice for health care consumers is that we don't get to neccasarily choose our insurance providers, they choose us.

I caught the tail end of a story on CNN where a guy had cancerous neck tumors and no health insurance. He made $30K as a photographer - so too much for medicaid.

So to get his tumor operated he married a friend of his who had health insurance - to get on her coverage.

We talk a lot about financial and inflation risk in the future. Mabe the bigger risk on ER is one's health and ability to hold insurance.

 

[tryan]

Number of people: 4
Ages: 39, 46, 9 and 7
Annual premium: $8232
Deductible: $3,000/family
Location: NH
Carrier: BC/BS

We talk a lot about financial and inflation risk in the future. Mabe the bigger risk on ER is one's health and ability to hold insurance.

Yeah, health and divorce are the FIRE killers. Yet we run spread sheets to nausea.

 

[Meadbh]

That's why I asked. So it's your ballpark estimate contribution to the Canadian health system, but not your cost. If you were making 2x as much money your contribution would be higher, but the cost is the same.

As far as "saint" is concerned, I have only two words "yeah, right"

Sorry for the late reply. I have a life!
Here are the actual per capita costs. My own are certainly less than average (and long may it remain so!)

"Total health expenditure per capita in Canada was estimated at $4,373 in 2005 and is forecast to be $4,606 in 2006 and $4,867 in 2007. Total health expenditure per capita varies among the provinces. In 2007, Alberta and Manitoba are forecast to spend more per person on health care than any other province, at $5,390 and $5,250, respectively. Quebec and Prince Edward Island are forecast to have the lowest expenditure per capita at $4,371 and $4,686, respectively."​

National Health Expenditure Trends​

 

[kcowan]

It should be noted that Meadb's quoted numbers have no deductible and no copayments.

However, they do not include drugs, eyes or teeth (except reconstructive surgery and cataracts). These are often provided through an employer's plan or directly with Blue Cross type plans, and most often require a contribution.

 

[fisherman]

Family HSA

$412.84 per month
Ages 44, 43, and two kids
Family deductible $5000 pays 100% after that
Typical Wellness care for all four is covered 100% in the premium

Premium increase this year 11% with no claims

 

[waltwill8]

2 people, both retired. Both 63. Live in Minnesota. Was self employed as a consultant from 2001 to 2006.
$397/month. $10k deductable each. 100% coverage after that, to $5MM lifetime. Has increased about 30% in 8 years.
Non smoking and non substance abuse coverage, whatever that means. Don't smoke and don't eat at McD's much
Luckily, we're healthy.

Has been a good deal compared to the premiums low deductables would have cost. Their (BCBS) HSA's were also not such a good deal.

We do as many common sense things as possible to stay healthy. Excercise, walk at least 15 mi/wk, preventive care - physicals, colonoscopy (yukkk), vitamins, etc.
Plan to stay away from hospitals! They're full of sick people and germs!!!