Medical Insurance Rates

[CF74]

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

I remember them sighing when they found out I was 45. Apparently I look 30ish. They said it was significantly higher for my age. At this point it seems cheaper to pay a tax penalty.

 

[Reality]

I remember them sighing when they found out I was 45. Apparently I look 30ish. They said it was significantly higher for my age. At this point it seems cheaper to pay a tax penalty.

Unless something happens. Then those high premiums will seem like pocket change.

 

[CF74]

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.

Yeah it’s a knee jerk reaction to even consider canceling my coverage. I’m just floored with this insanity.. But you’ve given me some really good insight, thanks Jerry...

 

[CF74]

Unless something happens. Then those high premiums will seem like pocket change.

Welp

 

[Runwildboys]

I remember them sighing when they found out I was 45. Apparently I look 30ish. They said it was significantly higher for my age. At this point it seems cheaper to pay a tax penalty.

I don't think my insurance policy takes age into account, but I could be wrong. Are you a smoker?

 

[Reality]

Yeah it’s a knee jerk reaction to even consider canceling my coverage. I’m just floored with this insanity.. But you’ve given me some really good insight, thanks Jerry...

My dad was in the insurance business for 25 years and when I used to complain about how much my car insurance cost back when I was younger, he would tell me, "Everyone hates paying for insurance .. until they need it .. then they love it." He was definitely right.

 

[CF74]

I don't think my insurance policy takes age into account, but I could be wrong. Are you a smoker?

Non-smoker

 

[Runwildboys]

Non-smoker

Do you have a large tumor growing out of your neck or an axe sticking out of your head? lol I just don't get why your insurance premium is so high.

BTW, my computer seems to think I misspelled "axe".

 

[CF74]

Do you have a large tumor growing out of your neck or an axe sticking out of your head? lol I just don't get why your insurance premium is so high.

BTW, my computer seems to think I misspelled "axe".

I’m glad I’m not the only person that thinks I’m getting trucked here. Man I’m praying it’s some kind of oversight or accounting payroll error. Light a candle for me bro... I don’t have any pre-existing conditions. Zilch

 

[Runwildboys]

I’m glad I’m not the only person that thinks I’m getting trucked here. Man I’m praying it’s some kind of oversight or accounting payroll error. Light a candle for me bro... I don’t have any pre-existing conditions. Zilch

Maybe they know something you don't know. lol No, you should talk to HR on Monday. See why you pay so much and if there are other options.

 

[CF74]

Maybe they know something you don't know. lol No, you should talk to HR on Monday. See why you pay so much and if there are other options.

Yeah the HR lady is skimming the books...

 

[Runwildboys]

My dad was in the insurance business for 25 years and when I used to complain about how much my car insurance cost back when I was younger, he would tell me, "Everyone hates paying for insurance .. until they need it .. then they love it." He was definitely right.

The surgery to have my gallbladder removed in '01 and my rotator cuff repair last year made the insurance premiums well worth it. Insurance would be so much more affordable if people would stop abusing the system.

 

[CF74]

The surgery to have my gallbladder removed in '01 and my rotator cuff repair last year made the insurance premiums well worth it. Insurance would be so much more affordable if people would stop abusing the system.

I had my gallbladder removed in 98. I chew little papaya tablets with every meal, tastes like candy. It’s a natural alternative to Tums and all that other junk. They sell them at places like GNC and The Vitamin Shoppe...

 

[Runwildboys]

I had my gallbladder removed in 98. I chew little papaya tablets with every meal, tastes like candy. It’s a natural alternative to Tums and all that other junk. They sell them at places like GNC and The Vitamin Shoppe...

Why do you need that?

 

[Tabascocat]

Why do you need that?

Helps break down the fat in foods since the GB is gone.

 

[Runwildboys]

Helps break down the fat in foods since the GB is gone.

I've never had a problem with that. Didn't know that was a thing...and most of my family has had their gallbladders removed.

 

[Tabascocat]

I've never had a problem with that. Didn't know that was a thing...and most of my family has had their gallbladders removed.

I’m not sure it actually works but is supposed to aid in digestion, less stomach aches, etc.

 

[Runwildboys]

I’m not sure it actually works but is supposed to aid in digestion, less stomach aches, etc.

I don't get stomach aches, and none of my family do either, I don't think. I didn't realize that was a common issue.

 

[Tabascocat]

I don't get stomach aches, and none of my family do either, I don't think. I didn't realize that was a common issue.

Do you/yall eat a lot of fried food? If so, then I have no idea why a missing GB doesn’t effect yas. Just going by what I remember from school of the function of the gall bladder and it’s importance. I still have mine, so can’t compare or anything

 

[Runwildboys]

Do you/yall eat a lot of fried food? If so, then I have no idea why a missing GB doesn’t effect yas. Just going by what I remember from school of the function of the gall bladder and it’s importance. I still have mine, so can’t compare or anything

I really don't know what their eating habits are, but I don't eat a lot of fried foods. I'm not a health nut, but I try not to go overboard with food.