Is insurance going to cost more?

[Greenman]

I can't seem to answer that question. Good or bad, we have reformed health care. I keep seeing cost estimates in the 15k to 20k per year range, that's about 4.5 times what it costs me now. I don't believe those numbers, but if they are correct, I won't be able to afford coverage and will have to pay the fine every year, and hope the cancer doesn't return.
Are there any real estimates of yearly insurance costs available?

 

[Mursilis]

I can't seem to answer that question. Good or bad, we have reformed health care. I keep seeing cost estimates in the 15k to 20k per year range, that's about 4.5 times what it costs me now. I don't believe those numbers, but if they are correct, I won't be able to afford coverage and will have to pay the fine every year, and hope the cancer doesn't return.
Are there any real estimates of yearly insurance costs available?

None you can believe. But ask yourself this - what has actually gotten cheaper once the gov't got involved? Healthcare costs have risen in the past, and likely will in the future. The only debatable issue is the rate of increase. Insurance WILL cost more. All you can ask is, how much more?

 

[cubeless]

what is your income level? if you are poor and get subsidies, maybe your costs won't go up... everybody else will pay more in total (add taxes for subsidies to ins rate) for the same level of service... there is just no this cannot be the case (at least until the miraculous cost savings start happening)...

 

[shadow9d9]

what is your income level? if you are poor and get subsidies, maybe your costs won't go up... everybody else will pay more in total (add taxes for subsidies to ins rate) for the same level of service... there is just no this cannot be the case (at least until the miraculous cost savings start happening)...

Same level of service? How about no pre-existing conditions, which means you'll actually get covered for the problems you have.

Liars are too common here.

 

[GuitarDaddy]

Thats the $600 question? Nobody really knows at this point. In theory the mandate that everyone purchase insurance should lower premiums as costs should be spread over a much larger pool and the competition created by the new exchanges should prevent insurance companies from just converting the new dollars into more profit. But the reality is we really don't know how this is going to play out and there may be some wild swings and unpredicted results until it all gets ironed out.

And of course the prognosticators of doom will chime in that the costs will continue to rise even skyrocket, but they don't have a clue and are just hoping it true to validate their opposition to reform.

 

[rudder]

You will pay more. Whether it is taxes, business expenses passed on to you, or an increase in premiums... you will notice health care has not gotten cheaper.

 

[spidey07]

It has to. There is no way that premiums can't rise significantly when you add in the pre-existing (ie, much more costly, take more care then premiums every provided).

 

[cubeless]

Same level of service? How about no pre-existing conditions, which means you'll actually get covered for the problems you have.

Liars are too common here.

wtf does that have to do with what i said, or the op? you are an idiot...

 

[nickbits]

Same level of service? How about no pre-existing conditions, which means you'll actually get covered for the problems you have.

Liars are too common here.

If you already have insurance, how does that matter? The level of service is the same if you already have insurance.

 

[nonlnear]

For high risk and (previously) uninsurables, it will become cheaper. For everybody else it will become more expensive. If they roll out a package of cost reforms in the next 2-3 years, that could change though. I suspect they timed things so they could do that just before the next Presidential election...

There are hints being dropped in interviews that there is another round of "reform" coming.

Mr. CORDANI: I don't believe focusing on repeal right now is in anybody's best interest. I believe focusing on the next leg of the stool, as rapidly as possible, is critical - which is to drive sustainability to cost. That's what the focus needs to be on, as opposed to trying to repeal what's already been done and the country spent the year on.

The timing of the recently passed law makes the strategic plan pretty clear. Major changes are going to kick in right after the next Presidential election which are going to make the system fall apart - unless costs are restructured dramatically. So get ready for another health care bill in about 18 months that focuses on costs. It is a perfect win-win for Democrats. It will "have to pass" to save the country and if it does they will ride another wave of praise. If it fails, the GOP can be painted as obstructionists who want to destroy the country for political games. If the GOP manages to fight through that battle and win in 2012, they won't have enough time to fix things before it all goes to hell.

I've got to hand it to the Democratic strategists. They have laid the groundwork for a spectacular decade (in terms of their own perceived success, not what I would like to see happen). I don't particularly like where it's headed but I have to admire their cunning.

 

[LTC8K6]

How can they not rise dramatically?

The only way they will not rise would be through a reduction in services.

The word has already gone out where I work to get ready for increases, or possibly even the loss of our current health care plans. Since this is a smallish business, we'll have to decide whether to maintain our employer sponsored plans in the face of dramatic cost increases, or cut everyone loose to fend for themselves.

We are loathe to take any form of government money in the form of subsidies for fear of then being dictated to by the Obama admin as to what we will provide, how much we will pay, etc.

http://online.wsj.com/article/SB100...42402986422.html?mod=WSJ_hpp_sections_opinion

 

[jstern01]

The answer is nobody knows. From what I have gathered talking to neighbors (including insurance sales rep), if you have insurance now, expect it to rise at about the same rate as in the past ($1100/yr for family of 4). If you are getting insurance, its what the market will allow. Preexisting conditions for adults do influence the cost, but keep shopping for the best rate.

Jim

 

[GuitarDaddy]

Greenman about the only thing you can count on for sure that is known is the cost after subsidies for those with an adjusted gross income of less than 4 times the poverty level which is $88,000 for a family of four. Your contribution will be capped at a percentage of AGI from 2% for those near poverty level to a max of 9% for those nearer the 4x poverty level. For example a family of four with an AGI of $80k would have to pay a max of $7200 or $600 per month and the government would subsidise the balance.

 

[LTC8K6]

The answer is nobody knows. From what I have gathered talking to neighbors (including insurance sales rep), if you have insurance now, expect it to rise at about the same rate as in the past ($1100/yr for family of 4). If you are getting insurance, its what the market will allow. Preexisting conditions for adults do influence the cost, but keep shopping for the best rate.

Jim

$1100 a year for a family of four? What is the employer contributing?

 

[LTC8K6]

Greenman about the only thing you can count on for sure that is known is the cost after subsidies for those with an adjusted gross income of less than 4 times the poverty level which is $88,000 for a family of four. Your contribution will be capped at a percentage of AGI from 2% for those near poverty level to a max of 9% for those nearer the 4x poverty level. For example a family of four with an AGI of $80k would have to pay a max of $7200 or $600 per month and the government would subsidise the balance.

So, if this family is currently unable to afford health insurance, and therefore paying nothing each month, The father and mother are young and healthy, and the children fall under another free plan, they will now have to pay $600 a month?

 

[Carmen813]

So, if this family is currently unable to afford health insurance, and therefore paying nothing each month, The father and mother are young and healthy, and the children fall under another free plan, they will now have to pay $600 a month?

You are ignoring, or skipped over, a key word in that quote.

The CBO thinks that premiums will decrease between 15-20%, but that since this will allow people afford better coverage, that they will choose to purchase this better coverage and have their premiums rise by about 10%.

If you want a good independent analysis, The Lewin Group has one. See page 32 for individual and family costs. It covers what you can expect based on your age, current insurance level, current health status, and other factors. It also factors in potential decreases in wages if employer costs are increased, as well as out of pocket costs. It's important to note that this article is comparing the House and Senate bill from last Winter. The House bill died in the Senate, so the only numbers that matter are the Senate ones. In addition, the Senate numbers do not reflect changes made by the reconciliation bill, which is expected to pass later today.

 

[EagleKeeper]

The answer is nobody knows. From what I have gathered talking to neighbors (including insurance sales rep), if you have insurance now, expect it to rise at about the same rate as in the past ($1100/yr for family of 4). If you are getting insurance, its what the market will allow. Preexisting conditions for adults do influence the cost, but keep shopping for the best rate.

Jim

$1100 a year for a family of four? What is the employer contributing?

Many employers pick up between 60 and 80% of the insurance costs.

 

[spidey07]

Many employers pick up between 60 and 80% of the insurance costs.

And the good ones pick up 100%. Like manufacturing. The so called "cadilac plans".

 

[GuitarDaddy]

So, if this family is currently unable to afford health insurance, and therefore paying nothing each month, The father and mother are young and healthy, and the children fall under another free plan, they will now have to pay $600 a month?

Your argument is a huge fail with me

To have an AGI of $80k they have at least a gross combined income of over $100k or greater than $8000 per month, and to say they are unable to afford insurance is just bullshit. If they choose not to have insurance they are irresponsible and are a part of the problem.

And you try and qualify it by saying they are healthy and their children fall under a free plan which I presume is medicaid or one of the state programs you guys hate so much.

Your idea of being irresponsible when your young and healthy and then letting the government take care of you on somebody elses dime when you get old is the status quo and its bankrupting the country and simple won't work anymore. Get over it and grow up

 

[EagleKeeper]

You are ignoring, or skipped over, a key word in that quote.

The CBO thinks that premiums will decrease between 15-20%, but that since this will allow people afford better coverage, that they will choose to purchase this better coverage and have their premiums rise by about 10%.

If you want a good independent analysis, The Lewin Group has one. See page 32 for individual and family costs. It covers what you can expect based on your age, current insurance level, current health status, and other factors. It also factors in potential decreases in wages if employer costs are increased, as well as out of pocket costs.

You are going to expand the pool of insured by 10%.
In a perfect number punching world; that should allow the premium costs to drop by 10%.

But you are also forcing the precondition clause (which means that expensive items will now have to be covered).

And people that previously abused the medical system will now start using insurance for it.

So a $5K medical bill that the taxpayer previous picked up will not be picked up by the insurance companies? Are the insurance companies goig to swallow that cost or pass it on with a premium increase?

And who is paying for the government subsidies. The taxpayer. (Unless Obama prints up more $$ to make those payments to the insurance companies)

And who is going to monitor these changes. A government employee that presently does not exist. Who is paying for that employee?

The Dems state that this will actually reduce the deficit. Then why is this being touted as $900B in costs.

Who is paying that cost? YOU ARE

The CBO uses the scenarios provided by the bill pushers; they do not go out to collect independent data

 

[GuitarDaddy]

Quote:

Originally Posted by LTC8K6
Quote:

Originally Posted by jstern01
The answer is nobody knows. From what I have gathered talking to neighbors (including insurance sales rep), if you have insurance now, expect it to rise at about the same rate as in the past ($1100/yr for family of 4). If you are getting insurance, its what the market will allow. Preexisting conditions for adults do influence the cost, but keep shopping for the best rate.

Jim

$1100 a year for a family of four? What is the employer contributing?

Many employers pick up between 60 and 80% of the insurance costs.

Well to start off with he totally misread the quote, the $1100 is what the man estimated the annual increase to be, and he addresses it like its the total annual cost for a policy

 

[LTC8K6]

Many employers pick up between 60 and 80% of the insurance costs.

Yes I know, I manage a small factory and we pick up 95%.

 

[EagleKeeper]

Many employers pick up between 60 and 80% of the insurance costs.

And the good ones pick up 100%. Like manufacturing. The so called "cadilac plans".

Anything over 75% will get hit with the penalty.

Now will the government plans also get hit?

Gut feeling is those will be exempt:hmm: Why?

 

[rudder]

Interesting... just got an email from our finance department. We are getting kicked off our current insurance on January 1st, 2011. Instead of a large number of plans to choose from we will have 2 choices.

We will see.

 

[LTC8K6]

Your argument is a huge fail with me

What argument?