Health Insurance

Date 10-18-2010 01:56

I was just wondering what other self-employed welders had for health insurance and how their premiums have been increasing before the Democratic sponsored health care plan started going into effect. I am looking for something good and with lower premiums. Just for my wife and I our premiums have increased over $6000 per year from just 3 years ago. Percentage wise, 131%. I was told by my doctor the significant increase is to help pay for those who don`t have insurance. Yet before all the debate over health care really got going,the American people were told that the average family`s premiums would go down by about $1000 per year. Thanks for any input.

By burleigh26 (**)

Date 10-18-2010 02:19

mine has gone up from 89 a month to 230 a month in less than 2 years. im looking for a new company.

By weaver

Date 10-18-2010 02:52

We have blue cross, our premiums were 250 to 750 per month..

By RonG

Date 10-18-2010 21:01

Give me a break! Who told you that lie? Mine has gone up every year to the extent our employer has bidding wars back and forth and we wind up changing providers every year.

We are about to do our annual benefits sign up in a few days and then we shall see how much it changes.

I know it will increase, just not sure how much. Any one who thinks an Insurance company is going to give them a break surely can not be clear on the subject. The only way its going to go down ($1000?) is to opt for less coverage.

By NMWELDING (**)

Date 10-19-2010 02:35 Edited 10-19-2010 02:39

I`ve been doing oilfield rig welding since 1983,and from that time until March of 2005 I have been part time at it.In March of 2005 I took an early retirement from Dow Chemical[I got tired of all the company B.S.]and concentrated on rig welding full time.Because I only worked there 18 years the portion I pay for premiums is prorated and also the company has a permanent cap on the amount they will pay for premiums,forever,everything above that cap is the responsibility of the retiree.We were always told that when working for a company,group rates through a company were cheaper[lower premiums] than for an individual plan. All I know is,group rates are ridiculously high.Right now for the wife and I Dow pays about $800 per month along with our $1100 per month. $1900 per month for 2 people is outrageous. When I was still working for the company someone calculated premiums to be paid by the retiree through the year 2050,and this was based on an 11% increase in premiums annually,which increase fast because of compounding. By the year 2050 the retirees responsibility was over $1,700,000.00 in just premiums alone. I still have the printout and the premiums are only about 2 years behind at this point. I called our insurance company and had to rant on someone,and I told them I understand an increase,but not THEIR increase,and they will eventually price more and more people out of the market and thus have to raise premiums on those remaining to help pay for those who don`t have insurance. Just a viscous circle until no one can afford it. Anyone have any suggestions on decent insurance with reasonable rates. Thanks for listening to my rant against insurance companies.

By cwf07

Date 10-18-2010 23:11

bend over

By 803056

Date 10-19-2010 20:26

Silly boys.

No one needs government help. We can fit the battles without government interference. It is us against the large insurance companies and they don't stand a chance against us!

Now you see the need for some government interference. When you apply for insurance on your own, you pay the full amount based on your age, current or pre-existing health problems, etc. You are not part of a group, so there is no averaging. Your rates, if you can get the insurance to begin with, are based solely on you and your health circumstances.

I have purchased health coverage for my wife and myself since about 1995. The premiums have climbed for several reasons, one being our age. You can automatically expect an increase in price every two years based on age alone. Then if there are pre-existing conditions the insurance carrier may require a year’s worth of premiums before you can collect on claims due to the pre-existing condition. The insurance carrier could also deny coverage all together if you have a pre-existing condition. If you do develop a health problem even with existing coverage, you can expect an increase in the premium the next time you have to sign up for coverage.

The one thing the insurance companies fought tooth and nail was allowing individuals to be grouped together to provide some level of averaging as happens when you work for a large company.

Another thing that the new laws do for us is it prohibits the insurance carrier from dropping you as soon as you do get a serious ailment, like cancer for instance. In the past, before Obama Care, insurance carriers were notorious for dropping your coverage as soon as a serious problem developed leaving the individual with no coverage and no hope of ever getting coverage. Once a carrier has dropped you, forget about getting a new carrier. Even under the current law, it is very hard to get coverage if you have a serious health problem.

Health coverage is very expensive, with or without the new health care laws that have been enacted. Is it for the better? Time will tell, but I can tell you from past experience with the health care industry, the individual is on the short end of the stick with no hope of getting a fair equitable shake without the new laws.

Best regards - Al