Just Got A Letter From Blue Cross/Blue Shield Indicating An Adjustment In My Premium.....

[global1]

Lucky for me that I cancelled my BC/BS policy back in September. At that time they raised my bi-monthly premium to $3,333.76.
I am self-employed and this policy was only for myself. This was with a $2500 deductible as well. I bought into this policy back in 1999. It was much cheaper and affordable back then - but every year like clock work they raised my premium until it reached the above cost. When I inquired whether or not they offered a cheaper policy - they told me they did - but I'd have to go through the complete sign-up process and gamble whether or not they would continue to cover me because during this timeline - I developed hypertension and high cholesterol and was being medicated for both. This is that pre-existing condition thingy. So - I would just bite the bullet and continue with that present policy and pay their ever increasing premium.

I cancelled my policy back in September - finally - because I reached that magic age of 65 and qualified for Medicare. Now with Medicare Parts A&B, a Medicare Supplement plan from Humana and a Part D drug policy. I paying around $425/month.

Quite a saving - and now I have better coverage than I ever had with BC/BS.

Today I received a letter from BC/BS informing me that my premium was being adjusted - and guess what - it was being adjusted up to boot. The reason the letter stated that the premium is going up is due to two new Affordable Care Act Fees. They said - "because of these fees, we must adjust your premium". It went on further to state the following: "On January 1, 2014, two new fees will affect what you pay for your health insurance. These new fees are part of the Affordable Care Act (ACA). These fees are the "Annual Fee On Health Insurers" and the "Transitional Reinsurance Program Contribution Fee".

Your premium will be adjusted for these fees. On 01/01/2014 your new Bi-Monthly medical premium will be $3,757.34.

Our goal is to serve your health insurance needs through all of life's changes. If you have any questions, our team stands ready to help.

Sincerely,

Blue Cross and Blue Shield

I did call BC/BS - just to make sure that they knew that I cancelled my policy back in September. Upon checking - they did cancel my policy - they couldn't explain why I received the letter.

What really got me was how the letter was worded to blame the ACA. The other thing - if I would have still been a policy holder - this was a $423.58 raise in premium or $211.79 per month.

Just thought I post this info. I thought this was something I'd like to share with fellow DU'ers.

[lostincalifornia]

1. I am sorry but a BI-MONTHY premium makes absolutely no sense. That is over 80K per year!!!!!

[global1]

6. BC/BS Definition Of Bi-Monthly Is Every Two Months....

So with this raise in the premium - if I was still a policy holder - my yearly premium would have been $22,544.04 with a $2500.00 deductible. I would have been out a little over $25,000 per year. That is highway robbery and with threat - all these years of cancelling this policy and not getting a new less expensive one - because of pre-existing conditions - I'd say 'extortion'.

This is criminal. Thank God for ACA and Medicare. Now with Medicare as explained in my OP - I'm down to $5100.00 per year with better coverage than ever.

[lostincalifornia]

8. agreed. I just though it meant every 2 weeks. Thanks

[cbdo2007]

2. Wow, sounds like the ACA will save you a ton on your health insurance!

[annabanana]

3. Lots of people must be getting those letters.

There are not high enough fines in the WORLD for crap like that.

[elfin]

4. SHOCKED that for profit BC/BS would CHOOSE to

Ignore the ACA grandfathered in clause and drop a policy in order to raise premiums AGAIN and blame ACA while making more money.

Not really shocked, of course. Welcome to Medicare.

[WillowTree]

28. How do you know that this was one of the for profit Blue Cross companies? Just wondering.

You may well be correct, but the OP didn't identify the state or which BC-BS company they were dealing with so I'm curious as to how you know if it's one of the for profits.

[elfin]

31. Thought they all went for profit in the late'90s

Based on my experience back then with one that was through my spouse's plan.

Looks like that was a mistaken assumption.

[SheilaT]

5. Bi-montlhly?

Isn't that twice a month?

If you're paying that much you could bank the money and self-insure, of simply carry a truly catastrophic policy.

[global1]

10. BC/BS Definition Of Bi-Monthly Is Every Two Months....

see above post - that's their definition not mine - they used that term "bi-monthly" in their letter.

[SheilaT]

30. Thank you for informing me.

That's still a huge amount of money.

[Buns_of_Fire]

16. I think you're thinking of SEMI-monthly.

Like bi-annually means every other year, while semi-annually means every six months.

[Chan790]

21. Biennially means every other year...biannually and semiannually are synonyms for 2x/year. n/t

[DesMoinesDem]

7. Your premiums were $80,000 a year?

I don't think so.

[global1]

9. BC/BS Definition Of Bi-Monthly Is Every Two Months....

see explanation above.

[enough]

11. I'm curious about that Medicare supplement plan.

I haven't been able to find anything that affordable in a Medicare Supplement. Are you including your regular Medicare Part B payment in that number (about $105 per month), or is that number for the Medicare Supplement and Part D only?

Thanks.

[global1]

12. I Went Back And Checked My Premiums - Here They Are....

Medicare Part A & B: = $157.35 per month
Medicare Supplement Humana (Plan F): = $210.06 per month
Part D Drug Plan: = $22.50 per month

The total is $388.91 per month - which is even less expensive than I quoted above. I thought I was around $425.00 per month.

My Medicare monthly premium is a little higher than most people because of my income up to now.

Note that Medicare supplement plans are priced geographically down to zip code. They also have an array of plans - I chose a Plan F which I was led to believe is the most extensive coverage plan. I could have actually got that down a little cheaper - but I opted for a supplement plan that included some basic dental and optical coverage.

My Part D Plan is with AARP or United Healthcare. As I don't take many drugs -only a generic antihypertensive, a generic diuretic and a generic simvastatin for my high cholesterol - I opted for the cheapest drug plan. It was only $15.00/month through 2013 and in 2014 it goes up to $22.50/month for me.

For me hitting 65 was a bonus - it reduced my outlay for medical insurance considerably.

[enough]

23. Thanks for taking the time to reply, and also to everyone else who weighed in on this. (nt)

[enough]

24. Me too. We had a big party to celebrate the year my husband and I turned 65.

Self employed all our lives and either paying huge premiums or going without. Being able to sign up for Medicare was a massive change in our lives.

[DURHAM D]

13. I am paying less than that.

Medicare deduction from SS - $105. Part D - $29.20. Medicare Supplemental (Plan F) $138.74 = $272.94.

However next year Part D and the Supplemental both increase so will be paying $52 more.

[HockeyMom]

14. I only signed up for A & B

which is $104 a month, and a hell of a lot cheaper and better than my former employer's self insurance. I turned 65 last week and was told I can apply for the full SS benefits after Janaury 1st, so that $100 can be taken out of my SS.

I don't need all that private C & D, and refuse to give money to for profit insurance companies. My feeling is that we need to get rid of them. That alone would reduce health care costs,

[DURHAM D]

15. So you plan to pay the 20% difference and deductibles for A & B out of pocket

and have no coverage of any type for drugs? May you stay healthy.

btw - the first year I turned 65 the Supplemental was $83 a month.

You are right that they take the Medicare monthly fee from your SS check when you start receiving it. Otherwise I had to pay quarterly in advance. I delayed starting SS. Is 2014 your full retirement year?

[RebelOne]

17. I am paying $105 per month for Plans A & B.

I could not afford any more for a supplement plan. the $105 is a big chunk out of my $1400 monthly SS check. Maybe you have a lot more money than others here and afford the supplement, but I can't. And drugs are fairly cheap at Walmart, Kroger, CVS and others.

[HockeyMom]

18. I was told that the year, not the month,

I turn 66 it is 100% Lucky, I was born the end of November. I paid the first 3 months until the end of January. I will sign up for SS after January 1st. I haven't worked in 2 years but my husband is still working full time. I figure I might as well collect SS and if I want to work subbing or on call, whatever I earn won't affect for my benefits.

In the past 30 years, I have only been to a doctor maybe 4 times? Labor and delivery, a sinus infection, and food poisoning. I take no meds at all. Don't need all that extra stuff, and don't want to use any of it, including all the Freebies. Why spend that extra money? It's just what I call "deathbed" care not to burden my family as far as I am concerned.

[DURHAM D]

19. That is correct - the year not the month you reach full retirement age.

Sounds like you have a good plan.

I don't take any meds and rarely see a doctor but have been putting off knee surgery for several years. I need to get it done but have just been too busy. Also will probably need cataract surgery in 2014.

I wish you continued good health.

[gulliver]

20. Anti-ACA threads are counterproductive and should be ignored.

Whatever the rhetorical approach, whether it is concern or sharing or outright whining, it doesn't matter. These threads have no verifiable data and mean absolutely nothing. Indeed, the lack of respect shown for the intelligence and evidence standards of DUers makes them an outright insult. We are not idiots.

[enough]

22. This is by no means an anti ACA thread. This is a pro-Medicare thread by a person

who recently reached 65 and is enjoying the wonderful benefits of being eligible for Medicare. This is particularly significant for people who are self-employed, who do not have an employer to help with health insurance.

As a person who was self employed all my working life till the age of 65, and also still working. I understand the great relief that happens when you become eligible for Medicare. It also makes me know that we should have Medicare available for everyone who wants it.

[global1]

27. Please, Please Don't Take This Thread As Anti-ACA......

I am all behind ACA. I even read the whole law. I think it's great. I wish that it was around before I turned 65 because I'm sure that I would have saved a lot of money had I been eligible for it.

My original intent was to illustrate how BC/BS was using ACA to raise premiums. That is what I think is criminal on their part.

So - no - this isn't an anti ACA post - I'm sorry you got that impression - please tell me what it was that I said that made you think that.

[kelliekat44]

25. Somehow I think this should be reported to the health insurance police...whoever they are.

The fees sound suspicious. Looks like they are trying to blame the ACA for doing something they have been doing for decades....raising premiums and providing less. The Feds do a huge business with BC/BS. Maybe they should push to do that business with a different for-profit organization?

[ZRT2209]

26. send a copy of the letter to your State Insurance Commissioner

give them the opportunity to determine if what BC/BS did was kosher or not

[Skittles]

29. the ACA really chaps their gold-digging hides

yes?