Humana HDHP Renewal -15% increase

[Buckeye]

Plans outside the exchange will not be medically underwritten (as far as we know under current rules), but if they are not metal plans you would still be subject to the penalty. Pretty stupid to make people with HSA plans pay a penalty and restrict the availability of them to people under age 30 or with insurance cost over 9.5% of income (both of which are least likely to buy an HSA plan in the first place). That's just my opinion, but I'm sure many here will agree with that.

Humana would not answer the question, "What is the actuarial value of my policy?" Can they really not know this information yet?

 

[John Galt III]

Humana would not answer the question, "What is the actuarial value of my policy?" Can they really not know this information yet?

Not sure if this is related to actuarial value, but when I applied for a $5,000 deductible policy with BCBS a few months ago, I got a letter saying the premium rate "may have been influenced" by a report provided by Optum. I got a copy of the report, which was a one page thing stating that the chances of me incurring more than $5,000 in costs in one year were 35%.

 

[Buckeye]

Not sure if this is related to actuarial value, but when I applied for a $5,000 deductible policy with BCBS a few months ago, I got a letter saying the premium rate "may have been influenced" by a report provided by Optum. I got a copy of the report, which was a one page thing stating that the chances of me incurring more than $5,000 in costs in one year were 35%.

Wow. A percentage determined by some obtuse formula of which you have no understanding and will never be explained or revealed to you? Kinda like your credit score? I wonder what the name of this "score" is?

 

[Mulligan]

Not sure if this is related to actuarial value, but when I applied for a $5,000 deductible policy with BCBS a few months ago, I got a letter saying the premium rate "may have been influenced" by a report provided by Optum. I got a copy of the report, which was a one page thing stating that the chances of me incurring more than $5,000 in costs in one year were 35%.

Wow, I never would have guessed the chances being that high. Throw out my costs incurred of being born, along with NyQuil and Tylenol, and I bet I haven't spent $5000 on health costs my entire life of almost 50 years.

 

[John Galt III]

Wow. A percentage determined by some obtuse formula of which you have no understanding and will never be explained or revealed to you? Kinda like your credit score? I wonder what the name of this "score" is?

You didn't hear this from me, but the report referred to it as "demographic risk score".