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Started By
Message
Health insurance rate spike
Posted on 3/7/16 at 5:08 pm
Posted on 3/7/16 at 5:08 pm
Unfortunately beginning April 1, my family medical insurance plan with Aetna provided through my employer will go from $650/month to $1400/month.
They offered a few options that were slightly cheaper but they had outrageous deductibles and out of pocket payment for doctors visits and prescriptions. With a 2 year old and a newborn I dont think that would be wise.
Should I talk to a local broker to get quotes for going out on my own and getting insurance?
Still in shock at this $700+ increase per month.
My wifes situation would nearly mirror this one, so switching to hers is pointless.
Just looking for any suggestions
They offered a few options that were slightly cheaper but they had outrageous deductibles and out of pocket payment for doctors visits and prescriptions. With a 2 year old and a newborn I dont think that would be wise.
Should I talk to a local broker to get quotes for going out on my own and getting insurance?
Still in shock at this $700+ increase per month.
My wifes situation would nearly mirror this one, so switching to hers is pointless.
Just looking for any suggestions
14
Posted on 3/7/16 at 5:22 pm to Polar Pop
Define outrageous deductibles.
Posted on 3/7/16 at 5:32 pm to Polar Pop
Is your company not paying for it or something? I'd definitely look in to switching. My wife, 2 kids and myself are on a plan with Vantage that has office and prescription copays and a $4,000 deductible and it's under $1,000/month, which is still outrageous, but a better deal that BCBSLA, which was a $6,600 deductible HSA plan with no copays for $1,126/month.
Posted on 3/7/16 at 5:59 pm to Polar Pop
You may qualify for special enrollment through the marketplace and get a subsidy to offset the costs.
Look into it.
Look into it.
Posted on 3/7/16 at 6:56 pm to Polar Pop
quote:
Still in shock at this $700+ increase per month.
How does anyone afford this? Maybe I'm naive because I've never made any real money, but if my health insurance suddenly spiked $700 per month, my family would be on the street.
Posted on 3/7/16 at 7:06 pm to Polar Pop
We pay $523 a month.
My wife, child, and I have a $3,500 deductible with a $12,000 out of pocket maximum a year.
Doctor visits are $25
Specialist visits are $40
ER is $150 unless admitted over night
90/10
Is that good or about average?
My wife, child, and I have a $3,500 deductible with a $12,000 out of pocket maximum a year.
Doctor visits are $25
Specialist visits are $40
ER is $150 unless admitted over night
90/10
Is that good or about average?
Posted on 3/7/16 at 7:23 pm to Polar Pop
Welcome to the new normal. Just keep that old pickup an extra decade or two.
Posted on 3/7/16 at 7:46 pm to Polar Pop
Why are you surprised that Obamacare is a damn joke?? Aetna is garbage. My company switched to them. Check out BCBS. Might be a little cheaper depending on what plan you want.
Posted on 3/7/16 at 7:55 pm to Polar Pop
That is insane, I couldn't imagine my health insurance spiking that much.
Thanks for making me feel better about my plan
Sorry for your misfortune.
Thanks for making me feel better about my plan
Sorry for your misfortune.
Posted on 3/7/16 at 9:18 pm to Polar Pop
That is an insane jump. What size company do you work for? What does the company contribute? Are you moving from a grandfathered plan to an ACA plan? What are your co-workers saying? Did the benefits get richer?
Posted on 3/7/16 at 10:40 pm to Polar Pop
Threads like these have me counting my blessings
Thanks to my employer, I only pay around 300 a month for my family of 4 for our blue cross PPO
It would be rough to have to budget 1000/mo for health insurance with mediocre coverage
Thanks to my employer, I only pay around 300 a month for my family of 4 for our blue cross PPO
It would be rough to have to budget 1000/mo for health insurance with mediocre coverage
Posted on 3/8/16 at 7:35 am to Polar Pop
The Affordable care act is a joke for most people that had insurance before 2010. I negotiate the rates for our company. We have just over 25 employees. Our out of pocket costs were a tad over 200K in 2013. Our renewal rate for 2016 is a tad over 300K for the year. We paid 100% of the employees benefits until this year. This year employees are having to contribute $600 per year. It just isn't sustainable for employers that actually pay the majority of the costs. I feel for the OP. Its shitty for everyone. The individual market is 10 times as screwed up as the group market.
This post was edited on 3/8/16 at 7:37 am
Posted on 3/8/16 at 8:13 am to Polar Pop
Unless the rules changed, when I was in the business, you could not buy on the exchange if you could participate in an employer offered plan.
Posted on 3/8/16 at 12:37 pm to Polar Pop
I have Aetna and had a similar extreme rate hike. Went with the high deductible family plan and it has been a nightmare. Can't wait for my wife to go back to work as a teacher and take advantage of state insurance. This is a nightmare for young families on company assisted insurance plans.
Posted on 3/8/16 at 1:48 pm to Polar Pop
I know an agent you can talk to...you actually met him. Mr. Manny in Houma. Could you imagine?
On a serious note, our company has over 50 employees so we have been grandfathered in so far. That will change this May. In a nutshell, our company has to pay health insurance premiums for every employee here per the new law. (At least offer it) BUT, what will change is before this cluster frick of ACA, our company would pay for 1/2 of our FAMILY premium, but now they are not obligated to pay any premiums for my wife and kids since they have to pay for all employees full premiums. (Which I understand) So yeah, I get my insurance paid for in full now instead of paying half, but now I have to come out of pocket for my wife and kids entire premiums. Of course I won't qualify for any government subsidies, cause heaven forbid I actually bust my arse and make some decent money. I told my boss that he will have to give me a raise to make up for any additional out of pocket premiums I have to pay for my family and he said we can try to hash that out. Screw this law....I really don't understand how families will be able to absorb these extra premiums unless I am missing something.
On a serious note, our company has over 50 employees so we have been grandfathered in so far. That will change this May. In a nutshell, our company has to pay health insurance premiums for every employee here per the new law. (At least offer it) BUT, what will change is before this cluster frick of ACA, our company would pay for 1/2 of our FAMILY premium, but now they are not obligated to pay any premiums for my wife and kids since they have to pay for all employees full premiums. (Which I understand) So yeah, I get my insurance paid for in full now instead of paying half, but now I have to come out of pocket for my wife and kids entire premiums. Of course I won't qualify for any government subsidies, cause heaven forbid I actually bust my arse and make some decent money. I told my boss that he will have to give me a raise to make up for any additional out of pocket premiums I have to pay for my family and he said we can try to hash that out. Screw this law....I really don't understand how families will be able to absorb these extra premiums unless I am missing something.
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