Michael

Were those individual private plans? If they are, the memo isn't going to mean much unless the family decides to purchase insurance on the open market instead of through the exchanges where prices for most states haven't been determined yet. If it is from employer provided coverage, ACA only restricts insurance companies from having more then 15% in overhead costs and requires the employer to only pay a specific minimum percentage of the cost. Therefore the employer can possibly reduce the percentage that it pays if it is currently above the minimum required. Also if the company is small and only a few employees created large medical bills, the cost for employer provided health coverage could significantly increase.

If people are getting memos that the price has increased by 25%-30% for individual plans, something is not right since health care inflation since ACA was enacted has been the lowest in over 40 year (about 2% annually).

JULIEROSE

Many around here have had letters the bills are increasing that much 30% the insurance companies came out and said they have to pay more.The employers are not willing to pay so they pass it on - ours has changed. It is in the news that is what is going on - watch out for your memo is heading your way - the insurance companies have raised rates to pay for it. We are four months away from implementation of landmark provisions of the affordable care - all across the country it is confused. People around here have health premiums going up some as high as 50% - the fees hitting companies will pass on to the employees. Companies with less than 15 employees will heavily feel it so that company has a costly medical conditions. Look out on Oct 1 when your employer should show you online policies you can go to detailing plans available in Jan 2014.

Steve_

Yes because they want to pre-empt the changes because they're scared about people with pre-existing conditions, etc.

When was this? It was back in 2010 as I recall that the prices all shot up.

scrubbedexpat099

A lady I knows works at the local Pharmacy, the comment about 2% medical inflation caused a chuckle.

Yorkieabroad

We've been with Humana since 2006/7... Our premium has gone up exactly 20% every year. We're currently at 628/month for an 11000 deductible. Next year, the California calculator Michael posted earlier would have us at about the same monthly premium, but a significantly lower deductible. Unfortunately Texas isnt setting up its own exchange, so will be going on the Federal rates, and the calculator for that is still showing we will be up to 1428/month!

RoadWarriorFromLP

I've had an individual health insuance policy since 2006. My premiums have increased every year, with an average increase of 20% per annum. My monthly premium is now 3.5 times higher than it was when I first got the policy.

Employers are increasingly passing on some of the higher costs to their workers. Their employees have often been blissfully unaware of what their insurance actually costs.

And as individual policy holder, I get to pay even more than you do. At least the ACA should save me some money, finally.

Michael

Washington State is showing similar prices to California. Colorado has estimates from health insurance companies but currently only for individuals (not families). The federal calculator now indicates about $1,100 per month for a family of 4 with 2 40 year old adults for the silver plan but that is a very rough estimate since the federal government has to get quotes for about 20 states and all the regions in those states.

http://www.wahealthplanfinder.org/calculator/

http://www.coloradohealthinsuranceex...lver-Plans.pdf

Kaiser appears to be the cheapest on the Colorado exchanges from $240-$303 depending on the region per 40 year old adult and children will likely be about 1/2 that amount per child if it follows the California and Washington estimates.

The UC Berkley calculator only calculates for California and National. The California calculations are probably the most accurate since I believe it takes it's information from the already agreed upon estimates from the insurance companies.

http://laborcenter.berkeley.edu/heal...hodology.shtml

Giantaxe

California is going to be the state to watch as to the success or failure of "Obamacare". It's consistently been ahead of the game in terms of setting up an exchange etc. Otoh, states such as Florida, which are actively trying to derail Obamacare, are doing their residents a huge disservice imo.

scrubbedexpat099

So about $1,000 a month plus cop pays and deductibles for a couple in their 50's.

Perhaps Obamacare need the A in ACA redefined?

Giantaxe

It's pretty affordable in comparison to having a pre-existing condition and being uninsurable or only insurable at sky-high risk. And of course they can no longer dump you if you have the audacity to get sick... But yes healthcare costs in this country are insane and the ACA does only a little to address that.

scrubbedexpat099

I do,nt however.

Michael

When I was 55 (almost 15 years ago), the quote I got from Blue Cross/Blue Shield was $600 for $10,000 deductible, 30% co-pay, and unlimited out of pocket expense.

The Silver plan has about a $3,000 deductible, $12,000 maximum out of pocket, and a 30% co-pay and cost about $500 for someone age 55.

There is also the bronze plan which is cheaper but the same maximum out of pocket but a 40% co-pay and a higher deductible.

Which would you rather have, the plan that was offered 15 years ago at $600 per month (likely $1,200 or more now) or one of the ACA plans? Also under ACA, government subsidies will occur for a family of 4 making less than about $90,000.

It is easy to be critical of the high premiums for ACA but it seems a lot better than what is currently offered.

Giantaxe

Can you guarantee that will be the case until you are Medicare-eligible?