Medical Insurance Rates

[CF74]

Just a thread to compare medical rates, coverages, and best companies out there.

Back in October I took on a new job at a fairly large company and was led to believe that they would pay half my insurance premium to the tune of $300 a month, or so it was implied. Well that was an implied lie unfortunately because they actually deduct about $332 from my pay check Bi-Weekly.

So in reality they are paying a little under a third unless there’s some type of accounting error. At this point you’re probably thinking dude it’s been three months and you just noticed this??? Yeah because for some reason I just got so caught up in work it slipped my mind. I just thought oh, they’ll only deduct it every other pay period. And to be quite honest I’m just not a numbers guy, it’s my achilles mentally.

Anyways I have Blue Cross with a $3,000 deductible. I work at a very large company so you would think we get a big group rate discount right? And yet my policy is over $900 per month for a guy that’s only 45??? It just doesn’t make sense to me. Or maybe my insurance premium is actually $1,200 month and they are paying half??? Welp..

I sent an email thru my member profile to Blue Cross for clarification before I storm into my HR’s office and accuse them of something and look dumber than I already am.

I’m so tempted to just cancel it and seek another policy elsewhere. Any suggestions before I yank the plug? I don’t remember ever paying this much for insurance in the past, like ever.


Aflac? Quack Quack...

 

[Runwildboys]

I have BC/BS too, but my deductible is half what yours is and I pay $40/wk.

 

[DanteEXT]

Sorry to hear that. Couple years ago a new company got the contract I work on. It came with a very nice pay raise on the offer letter. Was pretty happy. Then I got the benefits info. Exact same insurance coverage but over $100 more per check. Basically wiped out the raise. Figure the new company doesn't contribute as much as my last company.

Not sure what the costs are anymore when young on your own. Been about 14 years since I did that. Back in 2006 I had insurance for my daughter and I for $120 a month. Was much better than the $500+ a month the company I worked for offered.

 

[Reality]

Just a thread to compare medical rates, coverages, and best companies out there.

Back in October I took on a new job at a fairly large company and was led to believe that they would pay half my insurance premium to the tune of $300 a month, or so it was implied. Well that was an implied lie unfortunately because they actually deduct about $332 from my pay check Bi-Weekly.

So in reality they are paying a little under a third unless there’s some type of accounting error. At this point you’re probably thinking dude it’s been three months and you just noticed this??? Yeah because for some reason I just got so caught up in work it slipped my mind. I just thought oh, they’ll only deduct it every other pay period. And to be quite honest I’m just not a numbers guy, it’s my achilles mentally.

Anyways I have Blue Cross with a $3,000 deductible. I work at a very large company so you would think we get a big group rate discount right? And yet my policy is over $900 per month for a guy that’s only 45??? It just doesn’t make sense to me. Or maybe my insurance premium is actually $1,200 month and they are paying half??? Welp..

I sent an email thru my member profile to Blue Cross for clarification before I storm into my HR’s office and accuse them of something and look dumber than I already am.

I’m so tempted to just cancel it and seek another policy elsewhere. Any suggestions before I yank the plug? I don’t remember ever paying this much for insurance in the past, like ever.


Aflac? Quack Quack...

The amount you pay is irrelevant without knowing if it is just for you or does your policy cover family members/dependents as well?

Regardless, I would **NOT** cancel your current insurance under any circumstance before getting a new insurance policy in place.

 

[CF74]

The amount you pay is irrelevant without knowing if it is just for you or does your policy cover family members/dependents as well?

Regardless, I would **NOT** cancel your current insurance under any circumstance before getting a new insurance policy in place.

No it’s just me. My woman has insurance thru her employer. No kids.

 

[CF74]

I have BC/BS too, but my deductible is half what yours is and I pay $40/wk.

What state do u live in? My previous employer was based out of NJ even though I live in Dallas and the rates were a fraction of what I pay now. I think it was like $60 bi-weekly...

 

[Reality]

No it’s just me. My woman has insurance thru her employer. No kids.

As far as I know, you cannot get a new health insurance policy for yourself (meaning non-group) or make changes to your current one except during the open enrollment period which starts late in the year each year.. There are exceptions but I have no idea what they are.

If you are happily married and have been for a while, you might want to see if you can get added to your wife's insurance plan if it is cheaper.

 

[Runwildboys]

No it’s just me. My woman has insurance thru her employer. No kids.

Are you married? Can you get on her insurance? I'm asking that, knowing it's a stupid question, because you wouldn't be in this situation if you had a wife with better insurance.

 

[Runwildboys]

What state do u live in? My previous employer was based out of NJ even though I live in Dallas and the rates were a fraction of what I pay now. I think it was like $60 bi-weekly...

I'm in CT, and our company is based in Massachusetts.

 

[CF74]

As far as I know, you cannot get a new health insurance policy for yourself (meaning non-group) or make changes to your current one except during the open enrollment period which starts late in the year each year.. There are exceptions but I have no idea what they are.

If you are happily married and have been for a while, you might want to see if you can get added to your wife's insurance plan if it is cheaper.

We’re not married.

 

[Rockport]

Just a thread to compare medical rates, coverages, and best companies out there.

Back in October I took on a new job at a fairly large company and was led to believe that they would pay half my insurance premium to the tune of $300 a month, or so it was implied. Well that was an implied lie unfortunately because they actually deduct about $332 from my pay check Bi-Weekly.

So in reality they are paying a little under a third unless there’s some type of accounting error. At this point you’re probably thinking dude it’s been three months and you just noticed this??? Yeah because for some reason I just got so caught up in work it slipped my mind. I just thought oh, they’ll only deduct it every other pay period. And to be quite honest I’m just not a numbers guy, it’s my achilles mentally.

Anyways I have Blue Cross with a $3,000 deductible. I work at a very large company so you would think we get a big group rate discount right? And yet my policy is over $900 per month for a guy that’s only 45??? It just doesn’t make sense to me. Or maybe my insurance premium is actually $1,200 month and they are paying half??? Welp..

I sent an email thru my member profile to Blue Cross for clarification before I storm into my HR’s office and accuse them of something and look dumber than I already am.

I’m so tempted to just cancel it and seek another policy elsewhere. Any suggestions before I yank the plug? I don’t remember ever paying this much for insurance in the past, like ever.


Aflac? Quack Quack...

$900 a month for just you at age 45 is ridiculous. But I doubt it’s incorrect and just that you’re getting hosed by the system.

 

[BigStar]

That seems high wo dependants.

 

[Runwildboys]

Oops, sorry @Reality.

 

[CF74]

Are you married? Can you get on her insurance? I'm asking that, knowing it's a stupid question, because you wouldn't be in this situation if you had a wife with better insurance.

Not married. My ex-wife is a school teacher, back then Insurance was really affordable...

 

[CF74]

That seems high wo dependants.

It’s theft...

 

[CF74]

$900 a month for just you at age 45 is ridiculous. But I doubt it’s incorrect and just that you’re getting hosed by the system.

Something just doesn’t add up...

 

[Runwildboys]

BTW, I assume everyone (single with no kids) in your company pays the same, and your age should have no bearing.

 

[Reality]

Regarding group plans, they are not always cheaper.

For example, if you work for a small company and one or two people have huge claims for themselves or their dependents (such as children with diseases or disabilities), the group plan will spread out the coverage costs across all of the employees.

When I was younger (well before ACA kicked in), I worked for a 25-person company and one of the executives had a kid with down syndrome. It turned out to be cheaper for the company to buy an individual policy for his child rather than include her on the group plan as a dependent, so the company did that and paid for it.

The real issue though may not be a few people but a department of people. For example, your work may be in a safe and secure place, but if your company employs a lot of construction workers or people who work in high risk positions, it's possible the costs of their coverage is being spread out among those who are very low risk.

That's the guiding principle behind health insurance though is that the premiums paid by those who are healthy and rarely use their insurance help offset the coverage costs by insurance companies for those that have large or several claims each year.

Again, I'm not an expert by any means, but my guess is you are stuck with your current insurance policy until open/re-enrollment starts in late 2020. Even if that's the case, you should shop around before then to see what other similar individual policies will cost you. You may find they are the same price and/or more expensive or you may find they are much cheaper.

Of course you could cancel your policy and assume the risk that nothing serious will happen until open enrollment starts, but that's a huge risk in this day and age.

I would never recommend going without health insurance though.

 

[BigStar]

My sister is a real estate agent and that's round the ridiculous high rates she pays for out of pocket insurance wo employer provided. Look into that, wish I ws more versed tbh. Pagin @YosemiteSam , he always seems good with this type stuff. Most don't, but does this Blue cross option include Dental? I have a seperate blue cross plan for dental that is much higher.

 

[Reality]

Oops, sorry @Reality.

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