General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHow many American voters recently got letters like this?
So I had been reading in the news that Obamacare premiums are going up by as much as 25%.
So I open this letter yesterday and they say my premium is going up ro $588.23.
Right now I am paying $372 a month (and change). I have a $330 a month subsidy of which I am taking $300 (just in case my income ends up higher than estimated).
That is a 58% increase.
Not only that, but if my subsidy is about the same. That means that the amount I have to pay net goes from $42 a month to $258 a month, which is a 514% increase in my costs.
Another thought I just had though is that all these letters received by voters less than a week before an election sure do seem like a huge message our friends at Health Insurance Inc. - that Obamacare really sucks.
Hmmm.
I might also note that even if this result stands (that is if I cannot find a cheaper plan (likely with less coverage)) or get a larger subsidy, that I will still be saving over $1,000 a year because of Obamacare compared to what I paid in 2015.
Lotusflower70
(3,077 posts)Insurance companies helped write the bill so I have to wonder how much motivation they had to sabotage it.
PoindexterOglethorpe
(25,746 posts)the increases vary enormously depending on what state you live in.
I'm on Medicare myself and so I'm protected from the increases in the ACA.
hfojvt
(37,573 posts)but my state refused to expand it. One of the 17.
bravenak
(34,648 posts)Foggyhill
(1,060 posts)Just a band aid on the open wound till you can get a real fix done.
world wide wally
(21,718 posts)these increase
"When they passed Obamacare, they put a bailout fund in Obamacare.
We led the effort and wiped out that bailout fund."
Marco Rubio on Thursday, February 25th, 2016 in comments during the Houston GOP debate
Lucinda
(31,170 posts)More at link
"...42% average increase for benchmark premiums = much larger subsidies
According to HHS data, the average benchmark plan (second-lowest-cost silver plan) in Kansas will be 42 percent more expensive in 2017. But 82 percent of Kansas exchange enrollees are receiving premium subsidies, and those subsidies are tied to the cost of the benchmark plan.
So the sharp increase in benchmark plan prices means that subsidies will also increase sharply, keeping premiums at an affordable level for enrollees who are subsidy-eligible. HHS has estimated that there are 28,000 people in Kansas who have off-exchange coverage but who would be eligible for subsidies if they switched to the exchange. So if you have off-exchange coverage, make sure you compare on-exchange options (and double check your eligibility for subsidies) during open enrollment..."
Foggyhill
(1,060 posts)are now scamming the government instead of people directly and has little way of controlling that cost.
Not good long term and this needs to be fixed.
SickOfTheOnePct
(7,290 posts)So your change in out-of-pocket should be minimal, if anything.
No one should be surprised that premiums are increasing - healthcare is expensive, and so long as the insurance companies are spending 80% of the premiums on actual care, then the increases fall under the cost of doing business.
hfojvt
(37,573 posts)considering that my employer is paying $698.94 to cover a single person.
But costs vary widely too. When I was on the board for the water department as I remember it their health coverage was more than $100 less than ours and the county's health coverage was less too (for County employees). The director and board looked at costs for other government entities since we had the option of combining with them for insurance purposes.
A 54% increase though is rather outrageous. A person expects costs to go up, but not by 54% (or by 500%)
LWolf
(46,179 posts)every August telling me that my premiums are going up, and asking me to look over my choices for the next year and choose.
I always choose the cheapest choice, which allows donations to an HSA.
The cheapest choice? The premium is more each month than my son's mortgage, including his taxes and insurance. He bought his first home about 4 years ago.
I have a 20% copay for everything, and my deductible went up this year right along WITH my copay.
That 20% copay is the reason why I don't see a doctor for anything but the most extreme situations, like when I had shingles a few years back...the last time I actually saw a doctor. I DO get annual vaccinations and flu shots from the clinic nearby; that's one thing my insurance does actually pay for.
I've saved nothing because of Obamacare, and am still paying more every single year for care I can't afford to access.