|
|
10-19-2020, 01:51 PM
|
#1
|
gone traveling
Join Date: Mar 2017
Posts: 284
|
ACA (BCBS) rate hikes?
I just received my letter from FL Blue... they are telling me that my Blue Select plan, which for 2020 was only $41.76 per month, is going up to $252.69.
Now, I am in the process of getting an appointment with them to go over everything, but I was wondering if any other Floridians had seen something similar.
Another question just popped into mind... I will turn 65 in May. I assume that as I start Medicare, that my ACA premium will drop as it will just be my wife afterwards. Has anyone gone thru that type of life-situation change, from ACA to Medicare during the year? Any comments would be greatly appreciated.
Thanks,
Mitch
|
|
|
|
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!
|
10-19-2020, 01:52 PM
|
#2
|
Full time employment: Posting here.
Join Date: Jun 2018
Posts: 929
|
Good gracious!
|
|
|
10-19-2020, 01:53 PM
|
#3
|
Moderator
Join Date: Nov 2015
Posts: 13,920
|
I have Florida Blue, and my plan went from something like $409 to $436, so I didn't really blink.
|
|
|
10-19-2020, 02:05 PM
|
#4
|
gone traveling
Join Date: Mar 2017
Posts: 284
|
@MRSHaloFIRE - I don’t make very much money.
|
|
|
10-19-2020, 02:16 PM
|
#5
|
Thinks s/he gets paid by the post
Join Date: Nov 2015
Posts: 2,692
|
I'm with Florida Blue too, a Bronze plan, going from $71 to $262. That's with an increase in subsidy of almost $200. Waiting to see programs offered and what else to possibly consider.
|
|
|
10-19-2020, 02:17 PM
|
#6
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,298
|
My BCBS Silver 1443 plan went up in a preliminary notice from 119 to 258, so wondering too what's going on besides all the negative talk about dismantling the ACA?
__________________
TGIM
|
|
|
10-19-2020, 02:26 PM
|
#7
|
gone traveling
Join Date: Mar 2017
Posts: 284
|
I am sure that variations on last year's income could factor in, along with (of course) normal rate hikes.. but I wasn't that far off on my estimated vs. actual income.
|
|
|
10-19-2020, 02:27 PM
|
#8
|
Thinks s/he gets paid by the post
Join Date: Nov 2015
Posts: 2,692
|
Florida Blue isn't estimating any change in income, they wouldn't be able to do that.
|
|
|
10-19-2020, 02:31 PM
|
#9
|
Recycles dryer sheets
Join Date: Jan 2013
Posts: 380
|
My guess is there is a comparatively cheap benchmark silver plan versus last year. Your subsidy is based on that not whatever you chose
|
|
|
10-19-2020, 02:47 PM
|
#10
|
Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,212
|
Not Florida and not BCBS... but my Kaiser bronze HDHP when up about $100/month for myself and 2 teenagers. The deductible/max OOP also went up. But I expected this.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
|
|
|
10-19-2020, 02:49 PM
|
#11
|
Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,681
|
Quote:
Originally Posted by BoodaGazelle
Another question just popped into mind... I will turn 65 in May. I assume that as I start Medicare, that my ACA premium will drop as it will just be my wife afterwards. Has anyone gone thru that type of life-situation change, from ACA to Medicare during the year? Any comments would be greatly appreciated.
Thanks,
Mitch
|
When you start Medicare and your wife is still on ACA, you will still use the same household income but will only need insurance for one of you. Most likely that will mean a smaller subsidy and therefore a larger premium payment on your wife's ACA plan.
When I started Medicare and DH was still on ACA we lost about $250/mo in subsidy, just as an example. He's just 2 months younger than me so we only had to deal with that for 2 months.
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
|
|
|
10-19-2020, 03:51 PM
|
#12
|
gone traveling
Join Date: Mar 2017
Posts: 284
|
@Sue - wow... I guess the party has to end sometime! Still, we will have gotten a small benefit from ACA for about 2.5 years once DW get on Medicare....
|
|
|
10-19-2020, 04:26 PM
|
#13
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2007
Posts: 13,227
|
Quote:
Originally Posted by Sarah S
My guess is there is a comparatively cheap benchmark silver plan versus last year. Your subsidy is based on that not whatever you chose
|
I saw a similar jump in my post-subsidy premium a couple years ago. The base was very close, but my subsidy was ~$200 less, due to the 2nd lowest cost silver plan, or whatever it is.
|
|
|
10-19-2020, 04:31 PM
|
#14
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,298
|
Quote:
Originally Posted by bobandsherry
Florida Blue isn't estimating any change in income, they wouldn't be able to do that.
|
Correct.
__________________
TGIM
|
|
|
10-19-2020, 04:54 PM
|
#15
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,723
|
DW's letter stated an increase of $35pm in Florida, but not worries as we will adjust MAGI to compensate.
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
|
|
|
10-19-2020, 05:06 PM
|
#16
|
Thinks s/he gets paid by the post
Join Date: Aug 2014
Location: Chicago West Burbs
Posts: 3,018
|
Quote:
Originally Posted by Sue J
When you start Medicare and your wife is still on ACA, you will still use the same household income but will only need insurance for one of you. Most likely that will mean a smaller subsidy and therefore a larger premium payment on your wife's ACA plan.
When I started Medicare and DH was still on ACA we lost about $250/mo in subsidy, just as an example. He's just 2 months younger than me so we only had to deal with that for 2 months.
|
^+1 Very similar situation happened with us. For the interim, our medical insurance costs (Medicare and ACA) went up noticeably until we were both on Medicare. Do your homework to be sure how your situation might be affected
|
|
|
10-19-2020, 06:29 PM
|
#17
|
Thinks s/he gets paid by the post
Join Date: Feb 2014
Posts: 3,083
|
Its has to be related to the SLCSP (second lowest cost Silver plan) benchmark changing, that is what is the basis of the subsidy calculation. Maybe a new low cost plan started in your area.
|
|
|
10-20-2020, 09:27 AM
|
#18
|
Moderator
Join Date: Oct 2010
Posts: 10,723
|
BCBSNC said ours went up $263 per year, or a 20% increase. In 12 days I'll see what the SLCSP is and, to mis-quote the lone ranger I'm hoping for "high-high silver!"
|
|
|
10-20-2020, 10:49 AM
|
#19
|
Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,593
|
Here in metro Atlanta, my BCBS bronze plan is going from $530/month (no subsidy) to $600/month. That's a 13% annual increase, running way ahead of general inflation.
It would be one thing if I were actually getting some tangible value out of it, but I'm a healthy guy in my early 50s, nonsmoker, with quite minimal healthcare needs. Just a yearly physical and the very occasional visit to a dermatologist or something like that. Paying over $7,000 per year for insurance that doesn't even match GoodRx pricing is pretty galling, to say the least. It's looking very likely that medical insurance will consume roughly 9-10% of my entire next year's spending budget.
|
|
|
10-20-2020, 12:34 PM
|
#20
|
Thinks s/he gets paid by the post
Join Date: Nov 2015
Posts: 2,692
|
Would be curious how much the Covid-19 pandemic is influencing rates. Have to imagine much higher costs for treatment, something is driving up the costs.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|