2016 Health Insurance Premiums
Those of us in the private health insurance market in Minnesota are being socked with 40-50% increases in premiums eff 1-1-16. I may have to put the RV up on blocks and park it in the driveway. I have...
Forum Discussion
Believe it or not, even with single payer, one can get supplemental insurance. So, those more well off will still be able to get their 'better service.'
Without the ACA, I was trapped in a job so I could have health insurance. I quit my job the day after the ACA went into effect - I could have health insurance without a job.
I could have purchased COBRA and retired, but the rate was double of what I am currently paying with my ACA plan (and no, I don't get subsidies). The plan was also an HMO with a cap of $1million/year and no max out of pocket. Now I have a PPO with no cap and a max out of pocket of $6500.
So, before the ACA, I could have paid $6K a year with the potential of going into medical bankruptcy owing hundreds of thousands of $ if I had a catastrophic health problem. After the ACA I pay $4K per year with the potential of a max of $11K per year if I have a catastrophic health problem.
While I am not happy my rates are going up, I am much more relaxed knowing I don't have to worry about the what ifs. A friend of mine recently died after a two year battle with colon cancer. The last three months were spent in a hospital. The bill was way over $1 million. She was thankful for her better health insurance.
Without the ACA, I was trapped in a job so I could have health insurance. I quit my job the day after the ACA went into effect - I could have health insurance without a job.
I could have purchased COBRA and retired, but the rate was double of what I am currently paying with my ACA plan (and no, I don't get subsidies). The plan was also an HMO with a cap of $1million/year and no max out of pocket. Now I have a PPO with no cap and a max out of pocket of $6500.
So, before the ACA, I could have paid $6K a year with the potential of going into medical bankruptcy owing hundreds of thousands of $ if I had a catastrophic health problem. After the ACA I pay $4K per year with the potential of a max of $11K per year if I have a catastrophic health problem.
While I am not happy my rates are going up, I am much more relaxed knowing I don't have to worry about the what ifs. A friend of mine recently died after a two year battle with colon cancer. The last three months were spent in a hospital. The bill was way over $1 million. She was thankful for her better health insurance.
