Re: 40% increase in Health Insurance Premium

On Thu, 15 Dec 2005 12:48:49 -0500, Neon John <no@xxxxxxxxx> wrote:

>On 14 Dec 2005 21:03:09 GMT, "BobMcNabb"
><NABB1@xxxxxxxxxxxxxxxxxxxxxxxxxxxxx> wrote:
>
>>> rvfulltimewrote:
>>We're pretty much full timers, with a 4 month stay at our rental
>>condo
>>> in San Diego. SD is our legal residency.
>>>
>>> We just got our new premium notice for our health insurance. This
>>> is a $5000 deductable policy and 20% copay for the next $5000.
>>> My wife and I are 51 and 50. The premium is going up 40% next
>>> year. The current premium is about $2900 for a year. The new
>>> premiums is over $4000.
>>>
>>> It feels like someone hit us in the stomach.
>>>
>>> Two interesting facts. I went to the insurance company's web site
>>> and it looks like they don't sell our policy, Celtic Care. They do
>>> sell one called Celtic Care II where the premium would be about
>>> $200 less than our current premium, even though we're one year
>>> older. Looks like I'll have to give them a call about this.
>>>
>>> Second fact. Same web site, but now using a Livingston, TX
>>> zip code (Escapees home town). The premium for what appears
>>> to be the same policy (there are probably some differences) is
>>> 80% higher. WOW!
>>>
>>> This is not a good time of year to have to find a new health
>>> insurance policy. I suppose we could go naked.... And that
>>> is under consideration.
>>
>>It's possible that your age category is a factor in this increase and
>>it will continue to be a factor whatever insurer you go to. I'm quite
>>a number of years older than you, but my coverage is in a large HMO
>>group, so you'd expect the premium to be well under an individual
>>policy, yet it's $3000 a year just for my own individual coverage.
>>California medical costs are among the highest in the Nation. Ask
>>your insurer what rating factors are being used. $4000 for the two of
>>you sounds pretty reasonable to me.
>
>It does to me too. My BCBS PPO with medium copays is around
>$400/month or $6k a year. I'm a 50-something.
>
>I looked into MSAs but the high deductible policies were only
>fractionally (as in less than $30/month) less expensive than what I
>have now. It made no sense to change.
>
>You need to get out of the Loony Toons state, of course, but then you
>might take a look at BCBS's small business group policies. A group
>can be as small as 2 people. You and your wife are two people. I
>could go up considerably on my deductible and save maybe $50 a month
>but I have some chronic problems so it doesn't make financial sense.
>
>You need to realize that you've passed the magic number as far as
>medical insurance is concerned - 50. You'll find that individual
>insurance is practically impossible to get once you pass that number
>and that it is frightfully expensive. You're in a bad place until you
>qualify for Medicare.
>
>Frankly, medical insurance is the only reason I haven't already
>retired. I can't quite feed the monster and live a decent life on my
>retirement savings. A bitch, ain't it?
>
>John

The South Dakota Blue Cross won't sell a policy to someone using
a PMB type of address. MSAs are slow to arrive in the less populated
states. Plus, being a full timer it make sense to have a policy that doesn't
limit where you can receive medical care, should you need it.

.

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