Health Insurance

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WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 9:11 PM
IggyPride00;1345934 wrote:Bought my own insurance through most of the last decade, and I can say definitively that 10-20% increases a year have been happening for almost a decade now, long before Obamacare.

Then again that's what happens when Americans are asked to supplement the cost of healthcare for the entire world. Since we are the only market that will pay whatever the asking price is, we pay for the profit margin they aren't making on the other 180+ countries in the world. It is the dirty little secret no one wants to talk about.
It has steadily gone up. Now it is not steadily going up, but rapidly. We are seeing higher increases than normal for sure.
Dec 17, 2012 9:11pm
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Con_Alma

Senior Member

12,198 posts
Dec 17, 2012 9:17 PM
What are the projections for when Obamacare is implemented? Doesn't the meat of the plan still have to be put into place?
Dec 17, 2012 9:17pm
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WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 9:19 PM
Come back with a graph in about 3 years. 2013 rates are going up. Enough to make my employer look at options for the first time ever. They pride themselves on offering the best health benefits around. They finally had to force a deductible and offer alternatives.
Dec 17, 2012 9:19pm
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MontyBrunswick

Dec 17, 2012 9:21 PM
WebFire;1345950 wrote:Come back with a graph in about 3 years.
I'll put it on my calendar.
Dec 17, 2012 9:21pm
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WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 9:21 PM
dlazz;1345952 wrote:I'll put it on my calendar.
Awesome. I can't wait.
Dec 17, 2012 9:21pm
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MontyBrunswick

Dec 17, 2012 9:50 PM
WebFire;1345956 wrote:Even with this graph, the % rate of increase for 2008-2012 was double that of 2004-2008.
You aren't reading the graph correctly.
Dec 17, 2012 9:50pm
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WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 10:04 PM
dlazz;1345982 wrote:You aren't reading the graph correctly.
Please educate me then.
Dec 17, 2012 10:04pm
Cat Food Flambe''s avatar

Cat Food Flambe'

Senior Member

1,230 posts
Dec 17, 2012 10:56 PM
I can tell you that the average cost per year for my employer groups is running about $11,000 per employee this year. Whatever you contribute out of your paycheck is a part of this amount - but it does not include what each employee pays out in copay, deductibles, and coinsurance amounts. Want to know what your employer is spending? Ask what your COBRA premiums would be for your and your dependents. Here in Ohio, it's not horrific in comparison to the Northeast (and, my God, California).

You don't want to even know what the average cost per employee is for Taft-Hartley groups (mostly union plans in which the employer contributes to the union health funds trusts).

There are cases in which you're better off buying insurance on your own - but unless you're single, you'll have a very difficult time finding the same coverage you'll get with an employer group at a better rate. Typically, if you could handle a few thousand dollars in medical costs in a bad year, you can find reasonable "disaster insurance" programs that put -everything- to the deductible until you reach, say, $4,000 in a policy year, then kicks in at 100% from there.

Keep in mind most individual plans carve maternity coverage out to a separate rider with its own premium and deductible. A pregnancy and delivery is going to cost at least $10,000 without complications - there's no risk involved for this amount, as the insurer -will- have to pay it. The premium/deductible combinations are priced accordingly. On the other hand, if you marry your knocked-up-with-triplets girlfriend mid-year, your employer has to take her at the same rate as any spouse.
Dec 17, 2012 10:56pm
goosebumps's avatar

goosebumps

Senior Member

1,058 posts
Dec 17, 2012 10:59 PM
I'm a pharmacist for an Insurance company. My company's taxes will be going from less than 1 billion dollars per year this year. To greater than 2 billion dollars per year in two years. We are already planning for it. Every entity that is involved with healthcare will see a rise in taxes which will inevitably be passed on to the consumer. Not trying to be political here. Just posting what I'm seeing within my own company.
Dec 17, 2012 10:59pm
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MontyBrunswick

Dec 17, 2012 11:08 PM
WebFire;1345992 wrote:Please educate me then.
The graph isn't showing how much increase there was from year to year...it is showing how much insurance costs per year compared to 1999. That's why 1999 starts at 0%.

It's doubling the 1999 rate roughly every 7 years. The rate of (percentage) change is fairly constant. The graph would deviate a lot more (spike upward) if insurance premiums were skyrocketing.

It only feels like insurance is spiking because wages aren't keeping up with the increase in premiums.

Dec 17, 2012 11:08pm
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gport_tennis

Senior Member

1,796 posts
Dec 17, 2012 11:09 PM
sleeper;1345859 wrote:You won't be able to find a cheaper insurance plan than your company plan; I guarantee it.
false. I have found all sorts of cheaper plans than what my company offers. Now if you want to compare apples to apples insurance coverage for the price, thats a different story.
Dec 17, 2012 11:09pm
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WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 11:14 PM
gport_tennis;1346059 wrote:false. I have found all sorts of cheaper plans than what my company offers. Now if you want to compare apples to apples insurance coverage for the price, thats a different story.
That would be the default comparison, no? Of course you can find less coverage for less money.
Dec 17, 2012 11:14pm
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WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 11:21 PM
dlazz;1346057 wrote:The graph isn't showing how much increase there was from year to year...it is showing how much insurance costs per year compared to 1999. That's why 1999 starts at 0%.

It's doubling the 1999 rate roughly every 7 years. The rate of (percentage) change is fairly constant. The graph would deviate a lot more (spike upward) if insurance premiums were skyrocketing.

It only feels like insurance is spiking because wages aren't keeping up with the increase in premiums.
Still higher though. From 2004 to 2008 it went from 80% to 115%, difference of 35%. 2008-2012 went from 115% to 172%, difference of 57%. More notably, it went up a difference of 42% in just the last 2 years. Also, the employee contributions when up substantially from 2009 on.
Dec 17, 2012 11:21pm
Commander of Awesome's avatar

Commander of Awesome

Senior Pwner

23,151 posts
Dec 17, 2012 11:22 PM
I'm a single male under the age of 30 with no history of illness, non smoker, no kid, and healthy (not over weight etc..) an was uncovered by my employer for 2 years. The cost of that coverage per month after shopping around was $111 a month. That covered one doc visit a yr ($40 deductible) and nothing else until I paid $6,000. That was after shopping around. I find it hard to believe that with a family you're able to get family coverage for under $200 a month. Especially with a very young kid.
Dec 17, 2012 11:22pm
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sportchampps

Senior Member

7,361 posts
Dec 17, 2012 11:39 PM
I thought obamacare has a part in it that won't even let people have a high deductible. I'm pretty sure the largest it will allow a person to have is $2500. Most premiums will be going up about 20-40% once it really starts in 2014. One part of obamacare the opportunity to turn people down with pre existing conditions will raise cost around $70 a person and that's just one small part. I'm hearing this from family who work for insurance companies as actuaries and in sales.
Dec 17, 2012 11:39pm
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gport_tennis

Senior Member

1,796 posts
Dec 18, 2012 12:13 AM
Commander of Awesome;1346074 wrote:I'm a single male under the age of 30 with no history of illness, non smoker, no kid, and healthy (not over weight etc..) an was uncovered by my employer for 2 years. The cost of that coverage per month after shopping around was $111 a month. That covered one doc visit a yr ($40 deductible) and nothing else until I paid $6,000. That was after shopping around. I find it hard to believe that with a family you're able to get family coverage for under $200 a month. Especially with a very young kid.
Again I am not looking for insurance that is $200 a month. Through my company I will be paying Roughly $550 a month, I pay 433 a month now. If I could just keep it the same I have been paying I would be fine. You guys act like I am crazy for questioning if could find Health Insurance plans for less than 6K a year. Like I should just blindly spend the money and not ask questions.
Dec 18, 2012 12:13am
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gport_tennis

Senior Member

1,796 posts
Dec 18, 2012 12:20 AM
Wellness HSA Compatible
Plan Details(PDF)
<input type="checkbox" id="chk_WELLNESSHSA" value="3230663,143765,MEDICAL,MEDICAL"> <label id="lblCompareCaption_143765">Compare</label>
162.28
Deductible

Office Visit CoPay
Coinsurance


<select name="ctl00$Main$dlAvailablePlans$ctl00$ddlDeductibles" id="ctl00_Main_dlAvailablePlans_ctl00_ddlDeductibles" class="SmallerFont" style="font-size: smaller; width: 100px;"> <option selected="selected" value="$6,000">$6,000</option> <option value="$5,000">$5,000</option> <option value="$4,000">$4,000</option> <option value="$2,500">$2,500</option> </select>

N/A
100 %
Select Plan
Value Plus Plans
Plan Details(PDF)
<input type="checkbox" id="chk_VALUE" value="3230663,143756,MEDICAL,MEDICAL"> <label id="lblCompareCaption_143756">Compare</label>
210.70
Deductible

Office Visit CoPay
Coinsurance


<select name="ctl00$Main$dlAvailablePlans$ctl01$ddlDeductibles" id="ctl00_Main_dlAvailablePlans_ctl01_ddlDeductibles" class="SmallerFont" style="font-size: smaller; width: 100px;"> <option selected="selected" value="$7,500">$7,500</option> <option value="$5,000">$5,000</option> <option value="$3,500">$3,500</option> <option value="$2,500">$2,500</option> </select>

N/A
70 %
Select Plan
Elite Plans with Copay
Plan Details(PDF)
<input type="checkbox" id="chk_ELITE_WITH_COPAY" value="3230663,128126,MEDICAL,MEDICAL"> <label id="lblCompareCaption_128126">Compare</label>
352.22
Deductible

Office Visit CoPay
Coinsurance


<select name="ctl00$Main$dlAvailablePlans$ctl02$ddlDeductibles" id="ctl00_Main_dlAvailablePlans_ctl02_ddlDeductibles" class="SmallerFont" style="font-size: smaller; width: 100px;"> <option selected="selected" value="$2,500">$2,500</option> <option value="$1,500">$1,500</option> <option value="$500">$500</option> </select>

$ 30
80 %
Select Plan
Short Term Plans
Plan Details(PDF)
<input type="checkbox" id="chk_SHORTTERM" value="3230663,123656,MEDICAL,MEDICAL"> <label id="lblCompareCaption_123656">Compare</label>
201.39
Deductible

Office Visit CoPay
Coinsurance


<select name="ctl00$Main$dlAvailablePlans$ctl03$ddlDeductibles" id="ctl00_Main_dlAvailablePlans_ctl03_ddlDeductibles" class="SmallerFont" style="font-size: smaller; width: 100px;"> <option selected="selected" value="$1,500">$1,500</option> <option value="$500">$500</option> </select>

$ 30
80 %
Select Plan

These are plans that are available from the exact same company that my company goes through. Whoever said about the maternity insurance earlier was definitely right, the maternity insurance adds like $550 a month to these plans.
Dec 18, 2012 12:20am
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gport_tennis

Senior Member

1,796 posts
Dec 18, 2012 12:24 AM
WebFire;1346062 wrote:That would be the default comparison, no? Of course you can find less coverage for less money.
He said I wouldn't find anything cheaper than the company plan. I did. Really just being an ass because its sleeper
Dec 18, 2012 12:24am
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Gblock

Dec 18, 2012 8:21 AM
my insurance has went up a few bucks but im more pissed about my damn taxes..wtf? i was calculating and estimate yesterday online and i was expecting to get money back and it looks like i owe...im pretty sick we gotta do something about lowering taxes and insurance
Dec 18, 2012 8:21am
IggyPride00's avatar

IggyPride00

Senior Member

6,482 posts
Dec 18, 2012 8:55 AM
Gblock;1346200 wrote:my insurance has went up a few bucks but im more pissed about my damn taxes..wtf? i was calculating and estimate yesterday online and i was expecting to get money back and it looks like i owe...im pretty sick we gotta do something about lowering taxes and insurance
Did you make alot more money last year? Otherwise your tax bill really shouldn't be any different really than it was the year before because there haven't been any big rate hikes that I am aware of. Did you put in the numbers wrong or something?
Dec 18, 2012 8:55am
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Gblock

Dec 18, 2012 9:17 AM
IggyPride00;1346243 wrote:Did you make alot more money last year? Otherwise your tax bill really shouldn't be any different really than it was the year before because there haven't been any big rate hikes that I am aware of. Did you put in the numbers wrong or something?
hmmm looking at my last year w-2 i guess i made 5000 more gross than this year..but it still should be pretty close. they are holding our stipends for meeting our test scores until the audit is done which probably is 2-3000 gross that usually comes on dec 23 which ups my taxes held for the year

. but last year i made 83000 and my taxes witheld was 14190...this year my gross is like 76,500 and they have witheld 12,808 seems pretty close...but being single and no kids or house you get screwed..maybe next year ill get like 4 girls preggo so i can start benefiting from current tax laws. i love to get punished for not having random kids
Dec 18, 2012 9:17am
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MontyBrunswick

Dec 18, 2012 10:24 AM
WebFire;1346068 wrote:Still higher though. From 2004 to 2008 it went from 80% to 115%, difference of 35%. 2008-2012 went from 115% to 172%, difference of 57%. More notably, it went up a difference of 42% in just the last 2 years. Also, the employee contributions when up substantially from 2009 on.
Yeah, I guess...but it's not jumping leaps and bounds like you implied. It's hovering around the ~30%-50 range.
Dec 18, 2012 10:24am
sleeper's avatar

sleeper

Legend

27,879 posts
Dec 18, 2012 10:31 AM
Gblock;1346200 wrote:my insurance has went up a few bucks but im more pissed about my damn taxes..wtf? i was calculating and estimate yesterday online and i was expecting to get money back and it looks like i owe...im pretty sick we gotta do something about lowering taxes and insurance
The problem isn't the rising cost of health insurance and paying more in taxes; it's the downward pressure on wages that's occurring. Wages aren't rising, they are falling and it's causing everything to seem more expensive in an inflationary environment.
Dec 18, 2012 10:31am