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Health Insurance Premium went up 10%

M

manlymatt83

Lifer
Hi guys,

I'm on a buy direct plan (I'm self-employed). My health insurance company raised the rate about 10% this year. They also instituted a deductible for medicine but nothing for mail in orders.

Is this normal? Any big deal?

Thanks!
 
manlymatt83 said:
Hi guys,

I'm on a buy direct plan (I'm self-employed). My health insurance company raised the rate about 10% this year. They also instituted a deductible for medicine but nothing for mail in orders.

Is this normal? Any big deal?

Thanks!
Click to expand...

Really depends on your age, physical condition, insurance plan (deductibles/premiums), and income.
 
Based on what I've been reading in the news, that's not bad. I've heard of some folks getting hit with a 40% increase in their premiums, though I believe they were small businesses.
 
manlymatt83 said:
Hi guys,

I'm on a buy direct plan (I'm self-employed). My health insurance company raised the rate about 10% this year. They also instituted a deductible for medicine but nothing for mail in orders.

Is this normal? Any big deal?

Thanks!
Click to expand...
I know a friend's parents would love to be in your situation. They are both recovered cancer people (non-smokers, non-drinkers, too) and their premiums went up +150% this year. For 2010 they'll need to come up with $46K in premiums.
 
Meh, my rate just went up over 25&#37; just because I am getting older and in the "older" age bracket (no claim, nothing else change, never been in a hospital <crossing finger>).

My policy is for 1 person with high deductible (5K) and 5M lifetime limit with Blue Cross Blue Shield.
 
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Only 10&#37;? Count yourself lucky you are not one of the "uninsurables" or hit with 50% plus premium hikes like some.

Sad reality in this country.
 
Mine went up 20&#37; for me and 25% for my employer. Also, you know that wait for services people like to claim happens in cheaper systems? It's been two months since the doc ordered an MRI. Denialcare is in denial mode, said "Nope, you got to see the specialists first". Went to the specialist who ordered the same MRI ($350 for a 3 minute office visit later) and Denialcare is mulling it over.
 
I am in the process of open enrollment, and my premiums have increased roughly 20&#37;, so sounds like your lucky.
 
manlymatt83 said:
Hi guys,

I'm on a buy direct plan (I'm self-employed). My health insurance company raised the rate about 10% this year. They also instituted a deductible for medicine but nothing for mail in orders.

Is this normal? Any big deal?

Thanks!
Click to expand...

It's probably because someone got a sliver from one of those tongue depressors and a commie liberal jury gave them 80 jillion dollars. That is the only reasonable explanation.
 
nick1985 said:
According to the CBO, your premium will go up even more if the new healthcare bill gets passed.
Click to expand...

Don't leave out the facts that the premiums will go up because the minimum coverage requirements will be expanded. Meaning you will be paying more and getting more coverage. Not paying more for the same or less coverage. Also the CBO reported that premiums are going to increase without any action taken. So make no mistake the premiums are going up with or without obamacare. Long term the premiums are supposed to level out under obamacare.
 
manlymatt83 said:
Hi guys,

I'm on a buy direct plan (I'm self-employed). My health insurance company raised the rate about 10&#37; this year. They also instituted a deductible for medicine but nothing for mail in orders.

Is this normal? Any big deal?

Thanks!
Click to expand...

No, it's not normal, you're fortunate.

I've had private insurance from blue cross blue shield for the last 3 years, and each 1yr renewal, my premiums have gone up 20%. That's a total of 50% increase from the initial rate over the last 2 years.
 
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dainthomas said:
It's probably because someone got a sliver from one of those tongue depressors and a commie liberal jury gave them 80 jillion dollars. That is the only reasonable explanation.
Click to expand...

That or a large percentage of their clients have had heart surgeries to clean the McDonald's grease out of their arteries... or diabeetus complications... or stroke from high blood pressure caused by a bad diet... etc
 
BarkingGhostar said:
I know a friend's parents would love to be in your situation. They are both recovered cancer people (non-smokers, non-drinkers, too) and their premiums went up +150% this year. For 2010 they'll need to come up with $46K in premiums.
Click to expand...

Thank god I live in Canada. I had to be rushed to the hospital twice last year and the total cost was $700 because I don't have health insurance to cover the ambulance cost.
 
Eventaully they will price themselves out of customers. People will just refuse to pay those prices. They will goto free clinics instead for mediocre care. That is what i think will happen 10 years down the road if this continues. Bring on single payer.
 
soulcougher73 said:
Eventaully they will price themselves out of customers. People will just refuse to pay those prices. They will goto free clinics instead for mediocre care. That is what i think will happen 10 years down the road if this continues. Bring on single payer.
Click to expand...

indeed.

but I don't know free clinics that offer chemo

if healthcare reform doesn't pass, we can expect more increases to try and maintain dwindling coverage
 
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