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Started By
Message
ACA rates
Posted on 5/10/14 at 9:47 am
Posted on 5/10/14 at 9:47 am
So, my company has its annual open enrollment in May, with new benefits taking effect on June 1. So, I went in to revise my benefits, assuming I would see a HUGE jump in my rates.
Now, my wife participates in her employer's plan and includes the kids in her policy. But I have my own. Prepared for the worst, I opened the benefits enrollment and discovered that my plan was no longer available, and that I would now be able to get the next closest plan available. It was a whopping $19 a month higher! It went from $133 a month to $152 a month. (But HEY! I got pregnancy coverage!) Inasmuch as my employer pays 50% of the cost, that means the policy cost is $304 a month.
So, I then went to the ACA marketplace to check rates for an equivalent plan. Closely matching up the terms and restrictions, the ACA plan was $428.
I decided on a plan with a reduced deductible, lower co-pays and lower stop-loss from my employer. That went to $215, meaning the cost is $430. However, at the ACA site, the equivalent plan there shot up to $985 a month!
That seems like a very predatory rate if my employer can obtain a rate for the same insurance and conditions at less than half of that amount from a government plan.
How, again, is this supposed to be "affordable"?
Now, my wife participates in her employer's plan and includes the kids in her policy. But I have my own. Prepared for the worst, I opened the benefits enrollment and discovered that my plan was no longer available, and that I would now be able to get the next closest plan available. It was a whopping $19 a month higher! It went from $133 a month to $152 a month. (But HEY! I got pregnancy coverage!) Inasmuch as my employer pays 50% of the cost, that means the policy cost is $304 a month.
So, I then went to the ACA marketplace to check rates for an equivalent plan. Closely matching up the terms and restrictions, the ACA plan was $428.
I decided on a plan with a reduced deductible, lower co-pays and lower stop-loss from my employer. That went to $215, meaning the cost is $430. However, at the ACA site, the equivalent plan there shot up to $985 a month!
That seems like a very predatory rate if my employer can obtain a rate for the same insurance and conditions at less than half of that amount from a government plan.
How, again, is this supposed to be "affordable"?
11
Posted on 5/10/14 at 9:55 am to HubbaBubba
Its not. If I leave my plan, my costs triple on the exchange. I feel sorry for those people that work, and are delegated to the exchange. Oh, and then have to find a provider that accepts it.
Posted on 5/10/14 at 9:56 am to HubbaBubba
quote:A 14% increase. Obama said insurance costs would go down.
It was a whopping $19 a month higher! It went from $133 a month to $152 a month.
Posted on 5/10/14 at 9:58 am to HubbaBubba
I overheard my boss on the phone the other day speaking with our insurance provider... Sounds like I should prepare thy anus 
They have absorbed the increases for the last year, but I think the amount is too much now.
They have absorbed the increases for the last year, but I think the amount is too much now.
This post was edited on 5/10/14 at 9:59 am
Posted on 5/10/14 at 10:00 am to HubbaBubba
Why don't you pay your fair share about quit being racist against the poor!?
Same thing happened at my company. The comparable rates from the ACA site and the "private insurers" site were quite a bit different. We ended up back on where we started with an increase of $65/month.......with a higher deduct and less coverage. WTF man.
Same thing happened at my company. The comparable rates from the ACA site and the "private insurers" site were quite a bit different. We ended up back on where we started with an increase of $65/month.......with a higher deduct and less coverage. WTF man.
Posted on 5/10/14 at 10:11 am to HubbaBubba
The ACA proponents will tell you that you deserve this rate increase because you can afford it.
Posted on 5/10/14 at 10:12 am to rintintin
quote:The ACA proponents will say he is lying.
The ACA proponents will tell you that you deserve this rate increase because you can afford it.
Posted on 5/10/14 at 10:15 am to HubbaBubba
John Roberts was right. It's a tax. Therefore it is constitutional.
Posted on 5/10/14 at 10:17 am to HubbaBubba
Just wait until the employer mandate kicks in on 1/1/15
Posted on 5/10/14 at 10:17 am to HubbaBubba
quote:
So, my company has its annual open enrollment in May, with new benefits taking effect on June 1
Didn't businesses get an Obama Executive Order waiver until next year? I suspect that it will be next year where you see the big premium increase in your workplace insurance rates.
Posted on 5/10/14 at 10:18 am to mauser
quote:On the penalty for non-compliance.
Didn't businesses get an Obama Executive Order waiver until next year?
Posted on 5/10/14 at 10:22 am to HubbaBubba
I see several things from your post that you apparently don't understand:
1. The rates you quoted are not the ACA's. The ACA doesn't provide insurance. It's only a set of laws governing how insurance companies must now operate, and delineating the extent to which the Federal government will help consumers.
2. It has always been the case that individual plans from insurance companies are typically quite a bit higher than group rates within employer plans.
3. The rates you quoted are before any available Federal subsidies. More often than not, the net cost to the purchaser is less than the rate quoted on the exchange... in some cases, 100% less.
4. Even if the rates are high on the ACA marketplace website, those still represent an opportunity to get insurance unavailable to many people before the new law.
5. Even if the rates are high on the ACA marketplace website, they are still generally much less than what was available to people with pre-existing conditions before the new law, if they could get insurance at all.
Congratulations on having what seems to be a good employer plan at a reasonable rate. Not everybody is so lucky.
1. The rates you quoted are not the ACA's. The ACA doesn't provide insurance. It's only a set of laws governing how insurance companies must now operate, and delineating the extent to which the Federal government will help consumers.
2. It has always been the case that individual plans from insurance companies are typically quite a bit higher than group rates within employer plans.
3. The rates you quoted are before any available Federal subsidies. More often than not, the net cost to the purchaser is less than the rate quoted on the exchange... in some cases, 100% less.
4. Even if the rates are high on the ACA marketplace website, those still represent an opportunity to get insurance unavailable to many people before the new law.
5. Even if the rates are high on the ACA marketplace website, they are still generally much less than what was available to people with pre-existing conditions before the new law, if they could get insurance at all.
Congratulations on having what seems to be a good employer plan at a reasonable rate. Not everybody is so lucky.
Posted on 5/10/14 at 10:22 am to LSURussian
quote:
On the penalty for non-compliance.
Yup, doesn't mean that the plans they now have to offer don't have to be ACA compliant and more expensive...
Posted on 5/10/14 at 10:23 am to mauser
quote:The web site states unequivocally that the new plans meet the requirements of the ACA.
Didn't businesses get an Obama Executive Order waiver until next year? I suspect that it will be next year where you see the big premium increase in your workplace insurance rates.
Posted on 5/10/14 at 10:23 am to Rex
quote:
the extent to which the Federal government will help consumers.
Posted on 5/10/14 at 10:24 am to idlewatcher
Premium and deductible went up for my wife and I. So much so that we would have actually saved money paying for our child's birth out of pocket compared to paying our premium for 12 months + the deductible....
private insurance isn't the problem so much as how they are regulated by the federal government. But the ACA decided to expand the already dysfunctional system...brilliant
private insurance isn't the problem so much as how they are regulated by the federal government. But the ACA decided to expand the already dysfunctional system...brilliant
Posted on 5/10/14 at 10:36 am to Rex
quote:You shouldn't make such broad assumptions. In this case, you are incorrect.
I see several things from your post that you apparently don't understand
My original post had to do with my view that the rates from the insurance companies appear to be predatory and taking advantage of their participation in ACA from a personal experience.
Posted on 5/10/14 at 10:37 am to Rex
quote:
1. The rates you quoted are not the ACA's. The ACA doesn't provide insurance. It's only a set of laws governing how insurance companies must now operate, and delineating the extent to which the Federal government will help consumers.
Wow. So you mean to tell me that the rates have nothing to do with the new set of laws? Is that really what you're trying to say?
quote:
4. Even if the rates are high on the ACA marketplace website, those still represent an opportunity to get insurance unavailable to many people before the new law.
5. Even if the rates are high on the ACA marketplace website, they are still generally much less than what was available to people with pre-existing conditions before the new law, if they could get insurance at all.
In other words, Rex is saying thanks for paying for him to be able to get insurance.
Posted on 5/10/14 at 10:39 am to Rex
quote:
1. The rates you quoted are not the ACA's. The ACA doesn't provide insurance. It's only a set of laws governing how insurance companies must now operate, and delineating the extent to which the Federal government will help consumers.
True
quote:
2. It has always been the case that individual plans from insurance companies are typically quite a bit higher than group rates within employer plans.
Somewhat true.
quote:He may not have been eligible for the subsidy and tax credit. Where does the money come from for the "100%" subsidy?
3. The rates you quoted are before any available Federal subsidies. More often than not, the net cost to the purchaser is less than the rate quoted on the exchange... in some cases, 100% less.
quote:They maybe able be able to get coverage, but they may not be able to get treatment for their condition.
4. Even if the rates are high on the ACA marketplace website, those still represent an opportunity to get insurance unavailable to many people before the new law.
quote:Hooray! Somebody gets their "insurance" paid for by someone else.
5. Even if the rates are high on the ACA marketplace website, they are still generally much less than what was available to people with pre-existing conditions before the new law, if they could get insurance at all.
Posted on 5/10/14 at 10:42 am to HubbaBubba
My premiums went up 58% a month and my yearly out of pocket went from 1750 to 6000.
Tell me how it's saved me $2500 as the President promised.
Also, tell me, as a small business owner, how it's helped me be more productive and allowed me to grow my business in this stagnant economy.
Tell me how it's saved me $2500 as the President promised.
Also, tell me, as a small business owner, how it's helped me be more productive and allowed me to grow my business in this stagnant economy.
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