Health Insurance Premium Increase

crabbiepattie
crabbiepattie Member Posts: 108
edited June 2014 in Employment, Insurance, and Other Financial Issues

I have individual health insurance that really came through for me. The policy has a fibrocystic breast rider and I figured they would just dump me but, other than the biopsy ($7000, ouch), the policy paid for my treatment.  I actually got approved for the state high risk pool but didn't need it after all.

Having said all that, I'm not happy that my premiums are now going up from $360 to $490 a month. This is still less than the state high risk pool though, so I'm staying put. I'm just venting and wondering if anyone else (everyone else?) had this happen.

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  • Cynthia1962
    Cynthia1962 Member Posts: 1,424
    edited January 2012

    I have an individual plan and haven't experienced that.  I get the occasional increase due to "inflation", but nothing that seems to be a result of my medical care.  They can only increase premiums if they do it for everyone who has that plan so I can't imagine it's due to your care, but I could be missing something.  What was the reason your insurance company gave for the increase?  That's quite the increase.  I think mine goes up $50 or less each time. 

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  • crabbiepattie
    crabbiepattie Member Posts: 108
    edited January 2012

    Hi Cynthia,

    I don't think my rate increase is because of my claims, unless my group of other individual insurance people is very small.  The explanation from the insurance company cites "increased use and higher charges for health care".  This is a 35% increase - ouch.

    Pat

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  • naturalhorse
    naturalhorse Member Posts: 33
    edited January 2012

    I have a group policy through my business (I am the only employee)  The rates are actually equivilant to my state's high risk pool.  Last year my increase was ~50% .  I moved into a new age bracket plus the annual increase took it from $576 - $767 and this year it's going up to $829.  Yes, this is just me, no spouse or kids.

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  • crabbiepattie
    crabbiepattie Member Posts: 108
    edited January 2012

    Wow, naturalhorse, those rates are sky-high.  Mine don't seem so bad in comparison.  I'll hit a new age bracket next year and expect another increase.

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  • christina1961
    christina1961 Member Posts: 736
    edited January 2012

    Mine went up about $105 per month per person and it is a small group plan.  I was so scared it was going to go up more than that due to my health problems because the agent told me they do look at the health of the group.  Our group is only a group of two!  I will be paying more than a $1,000 per month but that is for both of us.

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  • Sherryc
    Sherryc Member Posts: 5,938
    edited January 2012

    I use to have an individual policy and one year because of my husband going to a new age bracket ours increased 35%.  I have gone back to work and now am on a group plan

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  • crabbiepattie
    crabbiepattie Member Posts: 108
    edited January 2012

    Hi Christina - Oh yes, you posted about your small group plan. I'm glad the increase wasn't worse than that - $105 each is pretty bad!

    Hi Sherry - Yes, the world of individual health insurance. As you say, the best thing is to have a regular job.

    I've been freelancing for over 8 years now; the health insurance issue wasn't easy but it was doable.  And I would have been laid off years ago had I stayed where I was.  Now, as a late-50's techie, it would be very difficult for me to get a regular job.  My DH is over retirement age so that won't work either.  The state high-risk pool is very pricey but it's there.

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