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Health Insurance Sticker Shock

Mike

Well-known member
Not only does it cost more in premiums, the CBO estimates that it will cost the gov't $6.2 Trillion, even though Buckwheat promised it wouldn't cost a "penny".

Some health insurers are warning Americans that they could see an increase in their premiums of anywhere from 20 to 100 percent when provisions of the Affordable Care Act, commonly called Obamacare, go into effect next year.


According to an Associated Press story, while there's no firm number on how many people will see the increases, it's believe that those who buy individual polices -- not through their employer -- are the likely target of the hikes.



Mark Bertolini, CEO of Aetna Inc., said in the story, "We've done all the math, we've shared it with all the regulators, we've shared it with all the people in Washington that need to see it, and I think it's a big concern."

"The health care law will bring down costs and save money for young people and families," Erin Shields Britt, a spokeswoman for the Department of Health and Human Services said in the story. "It's misleading to look at one provision of the law alone. Taken together, the law will reduce costs."

According to the story, there are several portions of the bill that could lead to a hike in rates. Among them, the premium tax, the age of the person to be covered, and the coverage a person has now.
 

Steve

Well-known member
is there any one who has seen a reduction in their health care costs ?

mine is "free" and my co-pay went way up and prescription co-pay and costs are up,

many drugs are no longer approved and many procedures have now been eliminated.. costing me more...


so the BIG question is:... Is there any one who has seen a reduction in their health care costs ?
 

kolanuraven

Well-known member
Steve said:
is there any one who has seen a reduction in their health care costs ?

mine is "free" and my co-pay went way up and prescription co-pay and costs are up,

many drugs are no longer approved and many procedures have now been eliminated.. costing me more...


so the BIG question is:... Is there any one who has seen a reduction in their health care costs ?

I switched our "group" policy to individual policies and YES our per person cost was cut by over $300 per person. Co pay went up only $5 more and Rx is better and a bit cheaper
 

Mike

Well-known member
kolanuraven said:
Steve said:
is there any one who has seen a reduction in their health care costs ?

mine is "free" and my co-pay went way up and prescription co-pay and costs are up,

many drugs are no longer approved and many procedures have now been eliminated.. costing me more...


so the BIG question is:... Is there any one who has seen a reduction in their health care costs ?

I switched our "group" policy to individual policies and YES our per person cost was cut by over $300 per person. Co pay went up only $5 more and Rx is better and a bit cheaper

$300 per year?
 

Whitewing

Well-known member
kolanuraven said:
Steve said:
is there any one who has seen a reduction in their health care costs ?

mine is "free" and my co-pay went way up and prescription co-pay and costs are up,

many drugs are no longer approved and many procedures have now been eliminated.. costing me more...


so the BIG question is:... Is there any one who has seen a reduction in their health care costs ?

I switched our "group" policy to individual policies and YES our per person cost was cut by over $300 per person. Co pay went up only $5 more and Rx is better and a bit cheaper

I guess anything's possible but that's hard to believe (switching to individual and saving money). How many employees? Average age?

While it's been a long time since I was responsible for a pile of employees health insurance, about the only way I could ever lower premiums was to raise deductibles....and I'm talking about examining the offers of assorted companies each year.
 
A

Anonymous

Guest
Whitewing said:
kolanuraven said:
Steve said:
is there any one who has seen a reduction in their health care costs ?

mine is "free" and my co-pay went way up and prescription co-pay and costs are up,

many drugs are no longer approved and many procedures have now been eliminated.. costing me more...


so the BIG question is:... Is there any one who has seen a reduction in their health care costs ?

I switched our "group" policy to individual policies and YES our per person cost was cut by over $300 per person. Co pay went up only $5 more and Rx is better and a bit cheaper

I guess anything's possible but that's hard to believe (switching to individual and saving money). How many employees? Average age?

While it's been a long time since I was responsible for a pile of employees health insurance, about the only way I could ever lower premiums was to raise deductibles....and I'm talking about examining the offers of assorted companies each year.


Yeah Kola-- its just the card carrying R culters the insurance companies are going to stick it to.... :wink:
 

Mike

Well-known member
HEALTH INSURANCE COSTS COULD DOUBLE NEXT YEAR
By Associated Press business staff
on March 13, 2013 at 12:11 PM, updated March 13, 2013 at 12:13 PM
Yolanda Hormilla, a RN working for Florida Blue, checks Jose Ballivian's blood pressure in the Sunrise, Fla. sales office. Some Americans could see their insurance costs double this year as the U.S. health care overhaul expands coverage to millions of people.
Associated Press file
Some Americans could see their insurance bills double next year as the health care overhaul law expands coverage to millions of people.

The nation's big health insurers say they expect premiums -- or the cost for insurance coverage -- to rise from 20 to 100 percent for millions of people due to changes that will occur when key provisions of the Affordable Care Act roll out in January 2014.

Mark Bertolini, CEO of Aetna Inc., one of the nation's largest insurers, calls the price hikes "premium rate shock."

"We've done all the math, we've shared it with all the regulators, we've shared it with all the people in Washington that need to see it, and I think it's a big concern," Bertolini said during the company's annual meeting with investors in December.

To be sure, there will be no across-the-board rate hikes for everyone, and there's no reliable national data on how many people could see increases. But the biggest price hikes are expected to hit a group that represents a relatively small slice of the insured population. That includes some of the roughly 14 million people who buy their own insurance as opposed to being covered under employer-sponsored plans, and to a lesser extent, some employees of smaller companies.

The price increases are a downside of President Barack Obama's health care law, which is expected to expand coverage to nearly 30 million uninsured people. The massive law calls for a number of changes that cause premiums for people who don't have coverage through a big employer to rise next year -- a time when health care costs already are expected to grow by 5 percent or more:

-- Changes to how insurers set premiums according to age and gender could cause some premiums to rise as much as 50 percent, according to a study commissioned by America's Health Insurance Plans, or AHIP, an industry trade group that's funded by insurers.

-- A new tax on premiums could raise prices as much as 2.3 percent in 2014 and more in subsequent years, according to AHIP. Policyholders with plans that end in 2014 probably have already seen an impact from this.

-- A requirement that insurance plans in many cases cover more health care or pay a greater share of a patient's bill than they do now also could add to premiums, depending on the extent of a person's current coverage, according AHIP.

The Obama administration says the law balances added costs in several ways, including tax credits that will bring down what many consumers will pay for insurance.

"The health care law will bring down costs and save money for young people and families," said Erin Shields Britt, a spokeswoman for the Department of Health and Human Services. "It's misleading to look at one provision of the law alone. Taken together, the law will reduce costs."

WHERE 'RATE SHOCK' MAY STRIKE

The impact of some cost hikes will be wide ranging. The new premium tax, for instance, will affect individual insurance, some employer-sponsored coverage and Medicare Advantage policies, which are privately-run versions of the government's Medicare program for the elderly and disabled.

Other price hikes will vary due to factors like a person's current coverage and age. Young people who currently have low-cost coverage may see some of the biggest hikes.

In many states, insurers charge a 60-year-old customer $5 in premiums for every $1 they collect from a 24-year-old. The logic behind that is that older people use health care more and generate more expensive claims than younger customers, so insurers need to collect more to help pay their bills.

But the overhaul will narrow that ratio to 3-to-1. That alone could cause the premium for a 24-year-old who pays $1,200 annually to jump to about $1,800, according to America's Health Insurance Plans. Meanwhile, the 60-year-old who currently pays $6,000 might see a 10 percent drop in price.

Gender also can be a factor in whether premiums go up or down. The law will prohibit insurers from setting different rates based on gender -- something they currently do because women generally use more health care. That means premiums for some men could rise, while they fall for women.

Prices also may change depending on a person's current coverage. Many policies on the individual market (coverage not sold through employers) exclude maternity coverage, but that will be considered an essential health benefit under the overhaul. That could mean higher prices for some.

Vikki Swanson, 49, of Newport Beach, Calif., resents that the added benefit may lead to higher costs for her. "I had a hysterectomy, I have no need for maternity coverage, but I have to now pay for it," she said.

As a self-employed accountant and financial analyst, Swanson has paid for her insurance coverage on the individual market for about 13 years. She watched her monthly premium climb from around $136 in 2001 to more than $600 before she could find cheaper coverage. She's frustrated that the overhaul may add to her bill.

"I have to pay not only my own premium but I have to subsidize everybody else," she said.

CUSHIONING THE BLOW

While insurers forecast instant premiums hikes starting next January, the overhaul also is expected to tame health care costs for many.

Starting next year, the law will require insurers to cover everyone who applies. That means health care costs could fall dramatically for people who have been unable to find coverage due to a chronic condition like diabetes or high blood pressure.

There also will be tax credits, or subsidies, given to people with incomes that fall within 400 percent of the federal poverty level. For 2013, 400 percent of the poverty level for all states except Alaska and Hawaii would be $94,200. These credits won't lower premiums, but they can ease the insurance bill depending on a person's income.

The credits should help the 20-something customers that insurers warn will see big premium hikes, said Linda Blumberg, an economist with the Health Policy Center of the Urban Institute, a nonpartisan policy research organization. She noted that people in that age range are more likely to be either working for an employer that doesn't offer coverage or earning low wages that would entitle them to a sizeable credit.

"While these folks are potentially facing some premium increases due to all these reforms, they also are the ones most likely to get the financial help from the exchanges," she said.

There are other changes that will benefit young and poor people. Some may qualify for coverage under the state-federal Medicaid program for the poor and disabled, which will expand in many states next year.

Additionally, people under age 30 who face big premium hikes will be able to buy plans that charge low premiums and just provide coverage for big or catastrophic costs. Those plans also will be available to people required to pay more than 8 percent of their income for coverage.

Plus, people who are age 26 are eligible to receive coverage under a parent's plan, thanks to another overhaul provision that already started.

In addition to those changes, insurers will have to compete for business on the exchanges, which could restrain price hikes, said Larry Levitt, a private health insurance expert with the Kaiser Family Foundation, which analyzes health policy issues. He noted, for instance, that some are already creating narrow networks of low-cost providers to help keep costs in check.

"Plans are very focused on trying to get these premiums down," he said.

But Robert Laszewski, an industry consultant and former insurance executive, said that theory assumes there is no competition in the marketplace now. He noted that a small company may get quotes from as many as 10 insurers competing for business when it tries to find coverage through a broker.

"I haven't had one person in the industry remark to me, 'Gosh, I wonder what the other guy's charging,'" he said. "They're worried that all this stuff is so expensive, they're not going to get the pricing right."
 

TexasBred

Well-known member
Oldtimer said:
Yeah Kola-- its just the card carrying R culters the insurance companies are going to stick it to.... :wink:
Naw....this dude plans to screw everybody. Just watch old man. How much did you raise the deductible on the group Kola??
 

Whitewing

Well-known member
TexasBred said:
Oldtimer said:
Yeah Kola-- its just the card carrying R culters the insurance companies are going to stick it to.... :wink:
Naw....this dude plans to screw everybody. Just watch old man. How much did you raise the deductible on the group Kola??

Uhhh, I hope she wasn't crowing about lowering the rates by raising the deductibles.
 

TexasBred

Well-known member
Kola better check those policies. Just saw a report where98% of private insurance company policies do not comply with the affordable healthcare requirements. (There goes your $300)
 

kolanuraven

Well-known member
Mike said:
kolanuraven said:
Steve said:
is there any one who has seen a reduction in their health care costs ?

mine is "free" and my co-pay went way up and prescription co-pay and costs are up,

many drugs are no longer approved and many procedures have now been eliminated.. costing me more...


so the BIG question is:... Is there any one who has seen a reduction in their health care costs ?

I switched our "group" policy to individual policies and YES our per person cost was cut by over $300 per person. Co pay went up only $5 more and Rx is better and a bit cheaper

$300 per year?

Per month!
 

kolanuraven

Well-known member
Whitewing said:
kolanuraven said:
Steve said:
is there any one who has seen a reduction in their health care costs ?

mine is "free" and my co-pay went way up and prescription co-pay and costs are up,

many drugs are no longer approved and many procedures have now been eliminated.. costing me more...


so the BIG question is:... Is there any one who has seen a reduction in their health care costs ?

I switched our "group" policy to individual policies and YES our per person cost was cut by over $300 per person. Co pay went up only $5 more and Rx is better and a bit cheaper

I guess anything's possible but that's hard to believe (switching to individual and saving money). How many employees? Average age?

While it's been a long time since I was responsible for a pile of employees health insurance, about the only way I could ever lower premiums was to raise deductibles....and I'm talking about examining the offers of assorted companies each year.


I got to admit I was shocked too,

But BCBS is what we've always worked with and are staying with.
 

kolanuraven

Well-known member
TexasBred said:
Oldtimer said:
Yeah Kola-- its just the card carrying R culters the insurance companies are going to stick it to.... :wink:
Naw....this dude plans to screw everybody. Just watch old man. How much did you raise the deductible on the group Kola??


I SAID....we don't have a group anymore.

The ded. was raised only $100.
 

kolanuraven

Well-known member
TexasBred said:
Kola better check those policies. Just saw a report where98% of private insurance company policies do not comply with the affordable healthcare requirements. (There goes your $300)

Just because you're too stupid and hard headed to read and investigate the diff plans and options----not the first one thrown at you by the agent--- don't get all pissy with me.
 

TexasBred

Well-known member
kolanuraven said:
TexasBred said:
Kola better check those policies. Just saw a report where98% of private insurance company policies do not comply with the affordable healthcare requirements. (There goes your $300)

Just because you're too stupid and hard headed to read and investigate the diff plans and options----not the first one thrown at you by the agent--- don't get all pissy with me.

I assume you read all the options and your agent assured you that they would be 100% compliant with the Affordable Care Act. As I said, a new release TODAY said 98% would not be in compliance. Don't worry, I'm sure yours are int the 2% that are ok. :wink: Now go piss down your own leg.

BTW, I'm on medicare and medicare supplement. I assume it is in compliance since Buckwheat's folks draw up the rules for it too.
 

okfarmer

Well-known member
Colon, as I suspected, you are full of poop.

I had BCBS previously and so has my wife. They denied more legitimate claims than any company I've ever dealt with (nothing major on either of us, just simple procedures or medical work ups as we are young and in relative good health). And, they no longer will insure children only- why is that? And, if you look at the same policy with the same exact options, it has went up over the past 4 years- I promise you that. Your trying to pass this off is like a used car dealer. Sure you'll give me a good deal on my old car before we settle on the price of the new one. And on top of that, your bragging about how great the rate will be on an adjustable rate loan, when there is no where but up left to go. In the new price, they likely added that they will chose the doctor and the treatment. Now, just wait for next year when the interest rate doubles, triples, and quadruples. 2014 hasn't hit yet. When they have to take everyone for everything, your rates are going to skyrocket. And that is when my insurance is dropping. It isn't financially feasible if it is to be done honestly. I know how BCBS works, so I have no doubt you will get what you have coming.

Congratulations on being simple, it will likely help you immensely in the near future.
 

kolanuraven

Well-known member
okfarmer said:
Colon, as I suspected, you are full of poop.

I had BCBS previously and so has my wife. They denied more legitimate claims than any company I've ever dealt with (nothing major on either of us, just simple procedures or medical work ups as we are young and in relative good health). And, they no longer will insure children only- why is that? And, if you look at the same policy with the same exact options, it has went up over the past 4 years- I promise you that. Your trying to pass this off is like a used car dealer. Sure you'll give me a good deal on my old car before we settle on the price of the new one. And on top of that, your bragging about how great the rate will be on an adjustable rate loan, when there is no where but up left to go. In the new price, they likely added that they will chose the doctor and the treatment. Now, just wait for next year when the interest rate doubles, triples, and quadruples. 2014 hasn't hit yet. When they have to take everyone for everything, your rates are going to skyrocket. And that is when my insurance is dropping. It isn't financially feasible if it is to be done honestly. I know how BCBS works, so I have no doubt you will get what you have coming.

Congratulations on being simple, it will likely help you immensely in the near future.



You are such a wonderful SOB!

I can'thelp you were offering up false claims....not my problem.
 
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