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Message
Does the Affordable Care Act allow premium variation by age groups
Posted on 11/19/15 at 10:06 am
Posted on 11/19/15 at 10:06 am
Wasn't one of the issues with the Affordable Care Act that millenials were being charged the same premium as older members of group plans?
Here is a group policy premium by age groups. Is this allowed under the ACA or should everyone be charged the same?
My premium has increased 87% since 2013 thanks to Obama and the Democrats.
Age Group Premium
18-24 $272.10
25-29 $317.99
30-34 $349.95
35-39 $374.54
40-44 $420.43
45-49 $498.28
50-54 $612.20
55-59 $729.38
60-64 $876.89
65-69 $941.64
70-74 $996.55
Here is a group policy premium by age groups. Is this allowed under the ACA or should everyone be charged the same?
My premium has increased 87% since 2013 thanks to Obama and the Democrats.
Age Group Premium
18-24 $272.10
25-29 $317.99
30-34 $349.95
35-39 $374.54
40-44 $420.43
45-49 $498.28
50-54 $612.20
55-59 $729.38
60-64 $876.89
65-69 $941.64
70-74 $996.55
7
Posted on 11/19/15 at 10:07 am to tigersbb
Insurance is for nerds.
Posted on 11/19/15 at 10:09 am to tigersbb
ACA jacked up the rates for young men, and (among other things) lowered the rates for the elderly through banding restrictions.
This post was edited on 11/19/15 at 10:09 am
Posted on 11/19/15 at 10:33 am to Lima Whiskey
quote:
ACA jacked up the rates for young men, and (among other things) lowered the rates for the elderly through banding restrictions
OK. I thought they had required al to pay the same which was the issue.
Posted on 11/19/15 at 10:53 am to tigersbb
The emergency room is free
Posted on 11/19/15 at 10:55 am to tigersbb
quote:
OK. I thought they had required al to pay the same which was the issue.
I want to say there's a limit of either 3:1 or 5:1.
There's also the actuarial value of the plan.
Posted on 11/19/15 at 10:56 am to tigersbb
quote:
My premium has increased 87% since 2013 thanks to Obama and the Democrats.
Mine was cut by almost half, and for much, much better coverage...with the same insurance company I had before.
Posted on 11/19/15 at 11:03 am to Nuts4LSU
quote:
Mine was cut by almost half, and for much, much better coverage...with the same insurance company I had before
Was the actual premium reduced or did you qualify for subsidies which reduced your cost?
Are you an individual policy holder or part of a group plan?
Posted on 11/19/15 at 11:18 am to tigersbb
I always hear people complain of drastic increases in their premiums, but I think most of that is politically minded drivel.
I pay $65 a month for incredible coverage and mine hasn't increased at all since PPACA was enacted.
I pay $65 a month for incredible coverage and mine hasn't increased at all since PPACA was enacted.
Posted on 11/19/15 at 11:25 am to Poncho
quote:
I always hear people complain of drastic increases in their premiums, but I think most of that is politically minded drivel. I pay $65 a month for incredible coverage and mine hasn't increased at all since PPACA was enacted
Is this your total actual premium or do you qualify for subsidies which reduced your cost?
Are you an individual policy holder or part of a group plan?
Posted on 11/19/15 at 12:05 pm to Nuts4LSU
quote:
Mine was cut by almost half, and for much, much better coverage...with the same insurance company I had before.
My family's insurance has done the reverse. Paying double and having higher deductibles, higher coinsurance % we pay after deductible met, higher co-pays for medicine, less coverage on services we use (along with less approved medicines), and forced coverages we will never use.
For 2016 current plan is going up an additional $60 a week and out of pocket for some services going up.
We are now going down to another plan next year, but total will still be more than current year and have to change at least 2 doctors with more limited network and getting mixed answers on a prescription. Some cut services that we will hopefully not need, but they are more likely than some of the mandated coverages that we either don't need or would like to choose a much bigger deductible on these specific services to help lower premium.
But hey it's just political drivel.
This post was edited on 11/19/15 at 12:23 pm
Posted on 11/19/15 at 12:26 pm to dallastigers
It cost a hell of a lot more for insurance now if you make any money. The largest insurer is not thinking about leaving the insurance exchange which will be a big deal if it happens.
He gone
He gone
Posted on 11/20/15 at 3:23 pm to tigersbb
quote:
Was the actual premium reduced or did you qualify for subsidies which reduced your cost?
Actual premium reduced. I do not qualify for any subsidy.
quote:
Are you an individual policy holder or part of a group plan?
Individual.
Posted on 11/20/15 at 3:26 pm to Poncho
quote:
pay $65 a month for incredible coverage and mine hasn't increased at all since PPACA was enacted.
Please define "incredible coverage."
I define it as $30 dr/urgent care visit copay
$1000/3500 hospital deductible
10/35/50 drug copay with $0 deductible.
That went WAY up.
Posted on 11/20/15 at 3:33 pm to Nuts4LSU
quote:
quote:Was the actual premium reduced or did you qualify for subsidies which reduced your cost? Actual premium reduced. I do not qualify for any subsidy. quote:Are you an individual policy holder or part of a group plan? Individual
What is your age? What company are you insured through? Is this written through a co-op? Is this an HSA?
Sounds like a great deal, but you seem to be in a very small minority. Tell us more we may want to enroll.
Posted on 11/20/15 at 3:51 pm to tigersbb
This is my understanding of how it works:
It's likely that his premiums dropped because he had a preexisting condition that would cause his rates to be higher than an average person in his age group.
Under the new exchange, they cannot inquire into preexisting conditions, so he can shop on the exchanges to lower is rates. However, as I understand it, the insurance companies do not need to renew the plan after a year; so they will likely choose to not renew his plan (They do this in hopes he picks a different company in the next go around on the exchange .... Thereby helping to spread the cost of the higher cost users around among the different providers.)
It's likely that his premiums dropped because he had a preexisting condition that would cause his rates to be higher than an average person in his age group.
Under the new exchange, they cannot inquire into preexisting conditions, so he can shop on the exchanges to lower is rates. However, as I understand it, the insurance companies do not need to renew the plan after a year; so they will likely choose to not renew his plan (They do this in hopes he picks a different company in the next go around on the exchange .... Thereby helping to spread the cost of the higher cost users around among the different providers.)
Posted on 11/20/15 at 4:00 pm to Poncho
quote:
I pay $65 a month for incredible coverage and mine hasn't increased at all since PPACA was enacted.
Where do you live? What company? Are you receiving a subsidy from the government or your employer?
It would be nice of you to share the details in case this is available to someone else. Why not help your neighbor if you can?
Posted on 11/20/15 at 10:34 pm to Poncho
quote:Can you tell us your deductible, copay, and max out of pocket expense?
I pay $65 a month for incredible coverage
Posted on 11/21/15 at 2:58 am to Poncho
Pics or you are full of shite.
Posted on 11/21/15 at 5:47 am to AZTarheeel
Please share info on your $65 incredible insurance. Many of us would love to swap to something like that.
As for the Political drivel statement. I'm not political at all but I have enough common sense to know that this whole health care scheme wasn't going to work out for working people. You can't cover everyone with insurance, get rid of pre-existing conditions, etc and make the cost go down. It's just not possible. Anything the gov't gives to one person had to be taken from someone else. nothing is free.
As for the Political drivel statement. I'm not political at all but I have enough common sense to know that this whole health care scheme wasn't going to work out for working people. You can't cover everyone with insurance, get rid of pre-existing conditions, etc and make the cost go down. It's just not possible. Anything the gov't gives to one person had to be taken from someone else. nothing is free.
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