So I'll post this here knowing it will turn into a political hot potato...
I just got the renewal for our individual plan health insurance with 2016 rates. Just wife and I on the plan. We initially moved to an individual plan last year when rates spiked on my small business high deductible plan, such that having a high deductible and such ridiculous monthly rates made no sense.
If we keep the same exact plan, rates will increase 28%. We did not cross any age brackets. I find it insane and will inevitably opt for a plan with less benefits and lower premium.
I directly blame the way Obamacare was implemented. The "managed care" aspect of the U.S. Healthcare system is broken - badly. You need insurance as much for the rates the insurance company pays as you do for the insurance. What other product or service charges uninsured people 4x the price as insured people? There is no real incentive to manage long-term costs as long as people need to buy insurance and the market does not reflect "real" prices between buyer and seller. Everything is grossly distorted. The reason I blame Obamacare is because all it did was force everyone into this broken system rather than reform it. As a result, over time, we will all see higher health insurance / health care costs and some of us will pay more in taxes to fund subsidies for others to participate in a broken system. It is hard to imagine forcing more people into a broken system is the right answer. Rather, I'd like to see a couple of reforms:
* Stop the ridiculous relationship between insurers and health care providers that results in discriminatory prices for the uninsured. It is a huge distortion in health care system economics.
* Have insurance go back to being insurance with normal deductibles and co-pays to create incentives for people to maintain their health to reduce out of pocket costs. Forget "managed care" as it has led to nothing more than ridiculous increases in cost.
Rant over.
I just got the renewal for our individual plan health insurance with 2016 rates. Just wife and I on the plan. We initially moved to an individual plan last year when rates spiked on my small business high deductible plan, such that having a high deductible and such ridiculous monthly rates made no sense.
If we keep the same exact plan, rates will increase 28%. We did not cross any age brackets. I find it insane and will inevitably opt for a plan with less benefits and lower premium.
I directly blame the way Obamacare was implemented. The "managed care" aspect of the U.S. Healthcare system is broken - badly. You need insurance as much for the rates the insurance company pays as you do for the insurance. What other product or service charges uninsured people 4x the price as insured people? There is no real incentive to manage long-term costs as long as people need to buy insurance and the market does not reflect "real" prices between buyer and seller. Everything is grossly distorted. The reason I blame Obamacare is because all it did was force everyone into this broken system rather than reform it. As a result, over time, we will all see higher health insurance / health care costs and some of us will pay more in taxes to fund subsidies for others to participate in a broken system. It is hard to imagine forcing more people into a broken system is the right answer. Rather, I'd like to see a couple of reforms:
* Stop the ridiculous relationship between insurers and health care providers that results in discriminatory prices for the uninsured. It is a huge distortion in health care system economics.
* Have insurance go back to being insurance with normal deductibles and co-pays to create incentives for people to maintain their health to reduce out of pocket costs. Forget "managed care" as it has led to nothing more than ridiculous increases in cost.
Rant over.
Health Insurance Renewals
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