re: Health Insurance Options for Self Employed? EXPENSIVE!!

I’m self employed along with my wife. We pay $1456 a month for a family of 4 with a $13000 deductible. Talk about getting screwed

My family pays $550 for $2,500 OOP max, $750 individual deductible, and $30/$45 copays, dental, and vision.

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I have some family members that paid $3k monthly for the two of them. $5k deductible.

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This. This is the frick it point.

Man I know this has to be frustrating. Just want to clear a few things up with you.

BCBS is a nonprofit organization. They are mandated by law that $0.88 of every $1.00 collected in premiums is paid out in member claims. This means that $0.12 of every $1.00 can be used for operating costs. It is my understanding that most nonprofit payers have actually been dipping into reserves since Healthcare Reform (ObamaCare) because they are paying out more in claims + their overhead than they are actually taking in from premiums.

While there are many reasons for why premiums are increasing, one of the biggest is the mandate of HealthCare Reform that everyone be covered and payers could no longer deny coverage because of preexisting conditions. The thought was that while payers would be taking on more elderly/unhealthy individuals and their almost certain extra claims, the payers would also get extra revenue from young and healthy individuals that would pay their premiums, but have few claims.

What actually happened is that the penalty for the young and healthy to not follow the mandate and purchase insurance was much lower (most times they weren't even penalized) than the cost of insurance premiums. So they just didn't buy it. Now insurance companies were forced to insure unhealthy people with preexisting conditions and these costs were not offset by healthy individuals that didn't have expensive claims.

Another way to look at this is to consider if the government said everyone must have car insurance and insurance companies couldn't turn down people who already wrecked their car! On top of that, all of the good drivers refused to pay for insurance and instead paid the $200 penalty. What do you think is going to happen to the premiums for those that do carry the insurance?

Sorry for the wall of text. Flame away.

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OP is paying $21k/year in premiums. At some point I would just say frick it, and risk it. I’d be able to pay a $150k bill with the money saved in just 7 years..

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$1,750/mo for 20 years at 8%apr is a hair over $1million.

I’m a preferred agent with BCBS and I agree these premiums are crazy
I personally pay $1600 a month for my family
Before Obama care hit I paid $600 for better plans (lower deductibles and out of pocket max)
The rules taxes and mandates from the ACA law have been passed down to the customer that doesn’t get a subsidy from the feds
However if you’re a single parent making $-20k you get incredible benefits that the working person will never get (subsidies for premiums deductibles and copay)
Sucks

I'm on a large company group plan, over 1500 employees.

Compared to others the premiums aren't bad but I have to pay the first 5K for anything major before it kicks in.

We got our open enrollment e-mail yesterday stating: Premiums have gone up, deductibles have gone up and co-pays have gone up.

This is the 7th year in a row with these same factors.

So any COL raise we receive will be eaten up by the premium increases, basically my disposable income has been level or gone down for seven years.

This is the only thing Obama did as president, screw the American working man. Freaking shite Stain

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Who voted?

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