Health Insurance
 

So my company announced they're switching next year to a co-insurance plan.

Is there anything positive about this switch - because if there is, I can't find it.

Anyone else's organization make the switch? How much more is it costing you?

Don't worry. It will be awesome.

At least its not a HMO

I would think it would cost less if you don't go to the doctor very often.

Unless your company pays for all of your insurance.

Surely they're going to compensate you financially for your loss in benefits.

What is your stop loss (max out of pocket expenses where the insurance picks up everything)?

That's just it. A Dr. visit will go from a $20 co-pay last year and a $25 co-pay this year to a $125 cost under the new plan. Thankfully, I'm very healthy and only go maybe once a year, but I shouldn't have to weigh going to the doctor against a $125 cost.

When I broke my hand earlier this year and went to the ER it cost me $150 for the ER visit. Now that will cost $1000+.

$1500 deductible (was $600 this year) and $4000 out of pocket max where they'll cover 80/20.

OMG INSURANCE ARE A BUNCH OF THEIVES /Bump

Oh-Bumah-kare is here to save you,

Health insurance costs have become prohibitive for the employers, and continue to get worse.

We (company less than 100 employees) received 35-45% increases annually, until we finally said no a few months ago.

We continued to raise the co-pay and increase the deductibles, until it just made no more sense, trying to keep the costs down.

Just for me and my spouse, it was costing $43,000 per year, with $6000 deductible, $50 copay in network etc.

The system is broke, unless you don't need it.

You were paying $43,000 for insurance???? Wow.

Yikes. That is quite a jump. Paying about the same in premiums for that much of a jump, or did they go down at all?

Their line thus far is that premiums won't increase. Gee, thanks.

Im starting to think the corperations and our wonderful gubment want us all to die.

fyp

So to me, this kind of plan makes a lot of sense. Insurance should cover catastrophic expenses that can not be easily absorbed by a normal person/family. The kind of expenses you are talking about (a few hundred a month at most) should easily be handled by a single guy with a good income. You don't really need insurance to cover those costs. If you were to be in a major accident or contract a major disease, you would need insurance to cover those costs. It may not be as good as the plan you had before, but I think that will be true for everyone as employers, individuals and the nation seek to control health care costs. Still your plan protects you from significant financial risk from virtually any medical situation that would come your way -- which should be the basic function of insurance.

That is the company part, plus my share. There were only 5 of us left in the plan, youngest was 50.

Each, including spouses had some kind of pre-existing.

Insurance companies raise rates, young healthy people (like the OP) drop out, because they can't afford it and don't really need it.

So rates are raised again, more drop out, on and on until it spirals to where ours was.

This is why I say the system is broke, and such a large percentage of our population do not have health insurance.

Nah...you can't tax a dead person.

There you go.

This is the boat every person would be in if they were paying for their own health insurance as they age.

I don't have the greatest knowledge of insurance, but typically, they offer to lower the premium whenever you pay more out of pocket. Did you even get a choice between 90/10, 80/20, or 70/30?

This!

My company switched to a HSA plan instead in order to minimize the increase in premiums, but even then it still increased 15% or so... it happens yearly.

Insurance premiums are a rather large expense for a company (assuming they pay it for the employees or a portion of it) and they are only getting bigger.

It is not a popular thought, but a company still does have to look out for their long term financial responsibilities and sometimes this means that the employees have to take a decrease in their benefits. It could be worse... they could just stop supply a health care plan altogether... I am seeing more companies go that route in this economy as well.

Of course I can absorb the additional cost. I am extremely healthy and take care of myself. If insurance is only going to cover catastrophic events (i.e. major accident or disease) then my premium should be much lower. Yet I pay the same amount as someone who eats crap, doesn't exercise, and has all types of health problems. Then they get coverage for those health problems at 100% because they term it "preventative" which is complete BS. Preventative should mean preventing that condition from occurring, not treating the existing condition with drugs.

I you want great insurance. Then become a politician. Other wise forget it.

You hit the nail on the head, the insurance companies need to bring their product into this century. The young healthy guys like you, have to pay for the ones that actually need the medical care, thus it is insurance. Spreading the liability over more people. When I was young like you, I blindly paid it, but never went to the Dr., hardly ever.

Since my heart stints 4 years ago, I have improved dramatically in all facets you mention. Especially diet and exercise, because I want to live.
But the insurance companies don't really care, they lump me together with the fat SOB, that sets on his couch eating sausage and cheese.

If you want to control healthcare cost, shouldn't there be a compromise between Drs/Hospitals that charge $750 for three stitches to your finger, and an insurance company that then agrees to pay the Dr/Hospital $39 dollars for the treatment?

You pay more than you should now, in order to able to pay less than $43K per year when you get old. At least that is the way I think it should work. Assuming you live long enough, you will eventually be in a high risk group. You won't want to pay the full actuarial cost of your health insurance then.

Maybe, maybe not. I am making choices now that I believe will greatly reduce my likelihood of being in the high blood pressure, high cholesterol, diabetic old-person club.

Those choices you are making now will help you be healthier now and then, but unless things change, they will not lower you insurance rates later in life.

I don't mind having a high deductible, supplemented by an HSA. You get to self-insure part of your care. Would have been even better if I had the HSA when I started working then I'd have alot more money in there. Having a high deductible plan w/ HSA, I play 70% less than I did when I had a co-pay. The co-pay was nice, I admit, but if companies are going to continue to screw over the non-smoking, working out, healthy, young portion of their work force what can you do. I really do think it's BS that I pay the same price for health insurance as a 60 year old smoker with prior conditions.

You can by taxing their estate.

Why not just save 43,000 in cash instead?

That is pretty much what we are doing as a company now, to an extent. But it is very risky, because a major medical event, like I had four years ago, can be 5 times that or more.

Even then, it's still broke. Outside of emergencies and those diagnosed with recurring problems, there's absolutely no reason for any healthy 20 something to have it. They wind up forking over practically the same as most old unhealthy people with multiple kids covered on the plan, but dont use it.

Tough for a small business owner to have insurance...

GOJC and I talked about this before.

sucks but the truth. I save money in case. Have a tiny plan that only pays a portion of big shit.

Haven't seen a dr in years. Medicine just makes you need more medicine imo anyway.

Kills the immume system imo. I've probably taken antibiotics less than 15 times since I can ever remember.
Actually maybe less than 10.
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I do get regular tetnus sp? Shots though.

Lots of rusty metal cuts for me.
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