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Message
re: Holy shite, just went to enroll in health benefits - UPDATED
Posted on 10/31/16 at 1:16 pm to LSUFanHouston
Posted on 10/31/16 at 1:16 pm to LSUFanHouston
quote:
Maybe something similar is happening. And in no way an I excusing a 22% premium increase, that's nuts.
That may be it. I have her going to talk to HR today to see wtf. 22% would be awesome at this point... and that's what's known as price conditioning. Take this huge increase year and even if it "only" goes up 20% for 2018 I'll feel it's a lot better than 250%. Pure insanity.
0
Posted on 10/31/16 at 1:21 pm to Wasp
quote:
Does your corporation self insure? Many large groups today self insure, which means the corporation bares all of the risk and the insurance company only services the claims and opens up its network of providers.
I don't think so, this is what was said in the email reminding us to sign up:
"You may see significant changes in the HMSA plan:
· The increase in rates is significant however very much in line with other HMSA clients this year;
· The "XYZ Corp" experience for the year (claims, Rx costs, etc.) has been fairly high
· Kaiser is a low-cost alternative for 2017 for TMs and a very viable option in terms of patient satisfaction and customer service."
I'm pretty sure HMSA insures us but the company must have gotten higher costs from the insurer for lots of claims. I get an increase I just don't see how 250% in one year can be justified.
Posted on 10/31/16 at 1:22 pm to LSUFanHouston
quote:
Maybe something similar is happening
Or his wife's employer isn't covering as much, if any, of his premium anymore.
Posted on 10/31/16 at 3:39 pm to Sho Nuff
42% increase for me. just under $100 increase per month for my family plan.
Posted on 10/31/16 at 3:40 pm to Sho Nuff
Dude we're self employed and self insured .. I promise you that you do NOT want to know what our premiums are. Hell I don't want to know but opened the bill by accident (that goes in my husband's business pile).
Posted on 10/31/16 at 4:43 pm to tiger91
quote:
Dude we're self employed and self insured .. I promise you that you do NOT want to know what our premiums are. Hell I don't want to know but opened the bill by accident (that goes in my husband's business pile).
I understand, trust me. She started working there in 2015 so before that I was paying for insurance as I'm 1099. But it wasn't too crazy in 2012-2014 less than $300 for both of us (high deductible).
Posted on 10/31/16 at 4:46 pm to Sho Nuff
I updated the OP.
My wife went to HR today and this is what she emailed me: "they were caught by surprise too and are digging deeper right now to find out some answers. Everyone is shocked it went up by 250-300%...some salary people are taking pay cuts she said including herself.."
Wow! Isn't Obamacare grand?
I just talked with a lady at the insurance commissioners office and she said someone will call me back.
My wife went to HR today and this is what she emailed me: "they were caught by surprise too and are digging deeper right now to find out some answers. Everyone is shocked it went up by 250-300%...some salary people are taking pay cuts she said including herself.."
Wow! Isn't Obamacare grand?
I just talked with a lady at the insurance commissioners office and she said someone will call me back.
Posted on 10/31/16 at 5:08 pm to Sho Nuff
lol we pay more than $900 for our family, we're 47 and 46 and in good health, no hx. Our ded is $5600 and we're 80/20 after that.
The good news for us is that we're grandfathered in at least for now and NOT under Obamacare.
The good news for us is that we're grandfathered in at least for now and NOT under Obamacare.
Posted on 10/31/16 at 5:24 pm to Sho Nuff
quote:
Because it's a combination? As you said, you're now paying $12k a year just for the gift of insurance but what if you actually have to use it? Now you're in for $17k that year. 2 people, now you're in for $22k. Etc.
You are including the discount that you pay for those services because you have insurance. What you pay is likely only 1/2-2/3 of the charges you would have had if you didn't have insurance.
Posted on 10/31/16 at 5:35 pm to Wasp
quote:
You are including the discount that you pay for those services because you have insurance.
What services? Most people aren't using that much to justify $12k a year. Of course, if something happens insurance is way better than paying on your own. That's why people pay for it.
quote:
What you pay is likely only 1/2-2/3 of the charges you would have had if you didn't have insurance.
Great, are they going to give me a refund for each year I don't use all the money I paid in?
Posted on 10/31/16 at 5:44 pm to Sho Nuff
I'm not trying to justify the insurance increases. That comment is directed more at deductibles.
Hospitals are the ones to blame though between insurers and hospitals. BCBSLA spends .92 cents on every dollar of premium on medical bills. So imagine all the spending that's required to reach deductible and all the co-insurance that isn't included in that. They still lost $70m last year.
Hospitals are the ones to blame though between insurers and hospitals. BCBSLA spends .92 cents on every dollar of premium on medical bills. So imagine all the spending that's required to reach deductible and all the co-insurance that isn't included in that. They still lost $70m last year.
Posted on 10/31/16 at 6:01 pm to Wasp
quote:
Hospitals are the ones to blame though between insurers and hospitals. BCBSLA spends .92 cents on every dollar of premium on medical bills. So imagine all the spending that's required to reach deductible and all the co-insurance that isn't included in that. They still lost $70m last year.
There's a lot of blame for sure and I can see hospitals being one of the bigger culprits. Pharma of course too, but the blame lies with the FDA as well. Still though, until ACA I wasn't paying for everyone.
Posted on 10/31/16 at 6:31 pm to Sho Nuff
quote:lol yeah that's bullshite. Unless she talked to a very low level employee
they were caught by surprise too
Posted on 10/31/16 at 8:08 pm to Sho Nuff
quote:
Agreed. But these premiums are just coming to light in recent weeks, right?
Heck no, rates have been skyrocketing by double digit percentage points for 3-4 years.
If you are covered under your wife's plan that may be part of the reason it's gone up a lot. Obamacares goal is to no longer have 'family' plans and everyone have their own singular insurance. So they are pricing out companies from supporting spouses that work.
My comment about premiums v high deductible is that there is absolutely nothing wrong with high deductibles. Frankly that is actually ideal. You should be responsible for a couple grand of deductibles it keeps people honest and from going to the doctor for every snifle. But what is absurd is to have extremely high premiums and high deductibles.
Posted on 10/31/16 at 10:39 pm to castorinho
quote:
lol yeah that's bullshite. Unless she talked to a very low level employee
You think they knew the rates were going up 250-300%? That's the surprise. Sure, you can say everyone knew rates were going up, like I did, but not to the extent it did.
Posted on 10/31/16 at 10:52 pm to baldona
quote:
Heck no, rates have been skyrocketing by double digit percentage points for 3-4 years.
It seems this broad stroke is hitting everyone for 2017 whereas not everyone was getting hit in the past few years. The individual plan I was on in 2014 was going up like 35% in 2015. And that was with a high deductible, not the best plan. Then wifey got hired in 2015 and us coverage through work and it was way better ($0 deduc) and was less than the individual coverage I had for us. 2016 we saw the rates go up about 35%. This year 250%.
quote:
Obamacares goal is to no longer have 'family' plans and everyone have their own singular insurance. So they are pricing out companies from supporting spouses that work.
I just checked her rates for only her buying insurance through her work and it's a huge difference. But if I buy ins on my own it would obviously be higher than through her work.
quote:
But what is absurd is to have extremely high premiums and high deductibles.
Agreed.
Posted on 10/31/16 at 11:44 pm to Sho Nuff
There are many flaws to Obamacare but one that was pointed out before it went into effect was that there were no controls in place for the pricing of premiums. The sky is literally the limit.
Posted on 11/1/16 at 7:31 am to VABuckeye
It had to be that way if you force "insurance" to cover preexisting conditions. That requirement right there eliminated the existence of health insurance.
Posted on 11/1/16 at 8:11 am to notsince98
to me, health insurance isn't even insurance. i insure my car and my home, as many others do, and there is a decent chance i, along with others, will never have to trigger my policy.
every single person triggers their health care coverage, multiple times a year, if not multiple times a month.
it should be called pre-paid healthcare, because thats what it is.
every single person triggers their health care coverage, multiple times a year, if not multiple times a month.
it should be called pre-paid healthcare, because thats what it is.
Posted on 11/1/16 at 8:55 am to 632627
This thread is a bat signal for people who know nothing about insurance to talk about things they don't understand
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