Curious Question: Health Insurance Premiums

Discussion in 'The Duck Hunters Forum' started by Adduckted, Nov 7, 2018.

  1. Adduckted

    Adduckted Elite Refuge Member

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    Just got a letter from our office. My health Insurance Premiums have gone from $460 per month to $674 per month, roughly a 47% increase. Me plus 3 Family members. Since 2012 the cost of my Insurance Premiums have risen 225%.

    Recent increase is 10% by the Insurance Company, plus a lovely decision by our CEO/Owner to reduce company portion of family coverage down to 60% (I'm on the board, he made this decision without any input from us). Employee coverage by the company is still 80%.

    I should also add, we are a company of around 150-200 employees, but only 20 of them live in the US. All others are in countries where health care is provided.`

    This stings to me a bit, but really hurts some of our employees and I wrote him a letter telling him so, not that I expect anything to come of it.

    So I'm curious. What are your premiums per month?
     
    Last edited: Nov 7, 2018
  2. 10GAGENUT

    10GAGENUT Elite Refuge Member Sponsor Flyway Manager

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    Don't feel so bad, last company I worked for had 4000 employee's worldwide. Our insurance was just for the wife and I, she has diabetes so I opted for the 90% plan to cover her medications which are very expensive. For just the two of us I was paying $405 per month, pre existing condition with the Diabetes so I paid quite a bit.
    For coverage on 4 people your going to pay for it these day no matter where you go.
     
  3. thatguy2

    thatguy2 Elite Refuge Member

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    We had to leave our company insurance plan. They want to jack the rates up so all hourly went to union insurance whether in the union or not. Once we were gone magically management didnt see an increase. We are still low at $184 per paycheck for the family plan and the insurance is great. Not as bad as some of you folks.
     
  4. The Mad Duck

    The Mad Duck Elite Refuge Member

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    I had a LONG talk with a BC/BS agent when my premiums went up roughly 32% a year for 3 straight years. The agent and subsequently the C/S rep at BC/BS told me that your premium is based SOLELY on your zip code. Let that sink in for a sec..by your zip code. A family your size, in the same general health and make up, pays a considerably higher premium than a family, in the same general health and make up in a zip code with a lower mean income. Thats a prime example of redistribution of wealth. Couple that with insurance companies raising EVERYONES rates and the insurance commissioners office approving every rate hike request since forever is driving rates sky high. Rates are always going to go up,but since the aca was shoved down our throats,rates have gone through the roof. My premium,before switching over to my wife's plan was MORE than my monthly mortgage payment. Now,since she is a retired teacher, I am on a state plan that while lower,is still NO bargain.
    The ACA was designed to fail,thereby forcing the nation into a single payer system and fail it has. I shudder to think whats going to happen when the dems take over the house in 2019. I imagine they will restore the individual mandate that Trump rolled back last year.
    Insurance (health and P/C) is the BIGGEST Ponzi scheme ever.
     
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  5. stevena198301

    stevena198301 Elite Refuge Member Supporting Member

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    Before my recent company swap, I was paying $794/month for health, dental, and vision (I don't remember the individual breakdown, but health insurance was by far the majority). Annual deductible also went from $250/year to $3000/year. Before the Obamacare changes, it was $200/month. Our company (40k strong) "led the way" here, in swapping to an Obamacare-type plan right after it passed (contract renewal time, and they went for the cost savings to the company vice the employees). The plan we had before Obamacare was actually better in terms of coverage (it was a really high-end plan). The company lost MANY good workers because they decided to **** on them and put the interests of the shareholders above their employees.

    My new company, I pay exactly $0/month for health and dental. Vision is $17/month. My deductible is now also $250/year again.
     
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  6. Shirleyshusband

    Shirleyshusband Elite Refuge Member

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    $1600 per month for me and Shirley. We're both retired, both 62 years old. Higher than any mortgage payment I ever had.
     
  7. HaydenHunter

    HaydenHunter Elite Refuge Member

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    I am in that gap between being employed and being 65 and on Medicare. I retired last year at 62 and my wife turned 60 this year. I pay about $1,600 / month for my wife and I to stay on the health insurance of the company I retired from. I have $1,500 deductible and $2,000 max out of pocket per year for the both of us combined. I receive some credit for being a retired employee. I paid less than $500 a month for this coverage before I retired. The company is self insured, although claims are processed through Blue Cross / Blue shield.

    As I was approaching retirement and asked the company for a quote to stay on their health insurance I was initially shocked and insulted by the pricing shown above. Then I went on the Idaho insurance exchange webpage and the very best deal I could find was $2,000 / month for $6,000 deductible and $16,000 max out of pocket! I was eligible for no discounts, since even in retirement my income is too high to receive them. There are people who receive good deals on insurance thanks to the ACA, but they are not folks like me.

    I have found that people in my predicament are generally in the same boat premium wise. You either pay the medical premiums for very good coverage or you pay it all out in deductible and out of pocket costs if you require much medical attention during a given year. Either way, you pay.

    You celebrate paying off your mortgage just in time to cut a big monthly check to the insurance company.
     
    Last edited: Nov 7, 2018
  8. Damian Wiening

    Damian Wiening Elite Refuge Member

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    I read somewhere it now cost an additional $5,000 a year for people, very affordable stuff, and the people who brought you this were put back in power in the House, to be fair the party in charge couldn't get their act to together and do the right thing also.

    I am just guessing they all invested monies in the providers that make the profits all on our backs as it always is, its not about the American people getting health care, it's about power and the people with it making money.
     
    Vahunter likes this.
  9. tcc

    tcc Elite Refuge Member

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    While I get your sentiment, there are plenty of people who bust their *** yet still may not make great money. Some of the hardest workers I've ever known made average money at best.
     
  10. HaydenHunter

    HaydenHunter Elite Refuge Member

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    Yeah, I reread what I wrote and edited it...probably as you were composing your post here. You are right. Plenty of people bust their butt but never make the big money.
     
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