2018 Premium Increase Horizon BCBS HSA

[retire2020]

I just got a letter from my insurance company with their intent to increase premium. It is going up from 1495 per month to 2126. My current premium is $857 after $638 subsidy. Now it’ll be $1488 after subsidy. Also coinsurance in tier 1 will increase from 10% to 30%. This almost doubles my premium and triples co-insurance.

I will be < 400% FPL also for the year 2018.... How is this estimate justified by them? What happened here to 9.69% of income for the second lowest cost silver plan? My income for 2018 will be around 115K so 9.69% of that would be $11,143. What am I or insurance company is missing here?

 

[MichaelB]

They have not updated the premium assistance from 2017, so you are seeing the new premium, but the old subsidy.

Your expected contribution is determined based on your income, so if it does not change, your expected contribution will be the same. The subsidy will be the difference between your expected contribution and the premium of the second lowest silver plan.

Open enrollment begins Nov 1. On that date, the new 2018 second lowest cost silver plan will be available. Contact your insurer then and ask for new numbers, or plan to reapply on the marketplace exchange.

 

[Dash man]

They have not updated the premium assistance from 2017, so you are seeing the new premium, but the old subsidy.

Your expected contribution is determined based on your income, so if it does not change, your expected contribution will be the same. The subsidy will be the difference between your expected contribution and the premium of the second lowest silver plan.

Open enrollment begins Nov 1. On that date, the new 2018 second lowest cost silver plan will be available. Contact your insurer then and ask for new numbers, or plan to reapply on the marketplace exchange.

We’re doomed! We’re all doomed! The sky is falling!

 

[retire2020]

They have not updated the premium assistance from 2017, so you are seeing the new premium, but the old subsidy.

Your expected contribution is determined based on your income, so if it does not change, your expected contribution will be the same. The subsidy will be the difference between your expected contribution and the premium of the second lowest silver plan.

Open enrollment begins Nov 1. On that date, the new 2018 second lowest cost silver plan will be available. Contact your insurer then and ask for new numbers, or plan to reapply on the marketplace exchange.

Thanks. But isnt this the outrageous increase? In this case, subsidy will make up about 60% premium and that too for people near 400%FPL. How much subsidy then people with low income get...may be 95%... No matter what govt does, insurance companies always win...why cant premium increase be regulated? I can only imagine what people above 400% would be paying! Not fair...

 

[LARS]

They have not updated the premium assistance from 2017, so you are seeing the new premium, but the old subsidy.

Your expected contribution is determined based on your income, so if it does not change, your expected contribution will be the same. The subsidy will be the difference between your expected contribution and the premium of the second lowest silver plan.

Open enrollment begins Nov 1. On that date, the new 2018 second lowest cost silver plan will be available. Contact your insurer then and ask for new numbers, or plan to reapply on the marketplace exchange.

I got a letter from my state exchange a few days ago and it states the $ amount of the 2018 Premium Tax credit.

 

[Z3Dreamer]

Got my letter today. Premium for a bronze HSA went from $2,115 to $2,178. BCBS does not know what my premium tax credit will be. Co-pays went down. Deductibles went up. Why do I only have a 3% increase?

So far, this year, BCBS has paid $199 in claims. We have paid $2,819. For this, BCBS has been paid $19,000. I know, I know. There are times where they pay much more....

 

[easysurfer]

Still waiting for my punch in the gut letter from BCBS. Should arrive any day now .

 

[wolf]

Retired, but I pay for young daughters Medical Ins. prems.

Also, waiting for the bad news

I pay out of pocket. No subsidy.