So I was playing with the MnSure premium calculator

[dflprincess]

http://www.mn.gov/hix/calculators/main/IndividualCalculator.jsp

They currently have it set up to give an estimate on a "silver" plan which, I believe, has a $2500 annual deductible. Let's hope these estimates are all on the high side because, if they're not, all I can tell you is don't get old.


If you're single, once your modified adjusted gross income hits $46,000 you're no longer eligible for any subsidy (the median salary in Minnesota is $56,954)

If you're 25 the premium is $289/month; 30 then it's $327.00. At 50 it's $515.00; 55 - $642.00; 60 - $782 and at 64 - $864.00.

I'm fortunate in that I a) make more than $46K and b) my employer has excellent benefits. There's no way I could squeeze $782 out every month for coverage that still expected me to pay another $2500 before it coughed up a dime.

Affordable my cute Irish ass.

[mike_c]

1. it's only tangentially hoped to be affordable....

It's designed to increase insurance company profits.

[dflprincess]

2. Which is why I often refer to as

"The Insurance Company Profit Protection Act" which is far more accurate than "Affordable Care" as it is not affordable not does it do anything to guarantee access to care it only requires that you buy "coverage" that you may or may not be able to afford to use.

[NYC_SKP]

14. Thank your stars you aren't in my shoes. You'd be singing a different tune.

Laid off from a good job with bennies and now COBRA is costing $1,432, just up from $1,373, per MONTH.

What's worse, I can't qualify for HIPPA because I have COBRA.

When the new exchange comes in, I should be able to get better coverage with lower deductible for half the price, or less.

AND, a dear friend who couldn't get insurance at all now has it thanks to ACA.

"Progressives" who complain about ACA must never have had to pay for their own insurance.

It's the only thing that can explain their dissatisfaction.

[dflprincess]

16. I have been in your situation

And I know I was incredibly lucky to find the job I have now, especially at my age. But while I was laid off the COBRA I paid was not as high as what MnSure would charge and it had similar coverage.

What really shocked me about the MNSure calculator is that the premium it says I'd pay is nearly double what my employer says my insurance cost is and I have a smaller deductible through that plan.

[NYC_SKP]

17. I have to admit that I didn't check your state's rates, I checked my own.

And it seems that COBRA has gone wild, I'm not sure you would get the same rate now.

It's crazy, it gets harder and harder to justify working at all if every spare cent has to go to shit like this.

While the top 1% and many in high offices and public service are taken care of for life.

The power is in the hands of the wrong people.

[dflprincess]

19. And I did not check New York's rates- I imagine they would be higher than Minnesota's

I am shocked at what your COBRA is.

Three years ago, when my brother was ill (cancer) his COBRA would have run $1200/month but that was with three of his over 18 kids still on it (Minnesota has required adult kids up to age 25 be covered on "fully insured" policies for several years now). I was paying it for him as there was no way he could squeeze that out of his disability check but I had throw the kids under the bus. Even with his illness and the employer changing insurance companies his monthly bill was $389/month with a $1500 deductible. (Then I got laid off and had my own COBRA to pay as well, not sure how I did it, but I figured if we reached the point where I couldn't one of us would be going without insurance and it wouldn't be the one with cancer.)

I too sometimes wonder why we work when we're suppose to put money away for "someday" (401K) and "just in case" (HSA) as well as the regular monthly bills. It's not good for us or, for that matter, the economy for our discretionary incomes to shrink to nearly nothing.

You are right, the power is in the hands of the wrong people.

[SheilaT]

6. Doesn't the current law require that the insurance companies

pay out a specific large percentage of their income for actual health care? And if they collect more than that they have to refund the excess?

Not that I'm a huge fan of the insurance companies mind you. I look forward to Medicare For All in the foreseeable future.

[VanillaRhapsody]

3. have we forgotten the subsidies?

[dflprincess]

7. Once a single person has an adjusted income of $46,000 they are not eligible for subsidies. n/t

[Hoyt]

4. $782/mo, with only a $2500 deductible at age 60, no pre-existing, etc., sounds decent.

That would be a savings to me, and many others. And there will be a lot of preventive care under that policy that is not subject to a deductible.

Single payer might be a bit cheaper, assuming government had been willing to take the initial risk of expanding coverage. But, for whatever reason, they weren't.

[dflprincess]

8. Much of what we call preventive care are actually screening tests

and, while they can catch a problem early, it doesn't do any good to have the screening test if you can't afford the follow up care. It can cost several thousands of dollars to find out the weird spot on the mammogram is benign. If you can't afford the out of pocket for the follow up, why have the screening.

And, perhaps you could explain how someone making $46K/year can squeeze $782 out of their budget for an overpriced insurance policy (and still pay rent/mortgage, utilities, groceries and all the other expenses a person has.)

[The Velveteen Ocelot]

5. Holy crap. I thought COBRA was bad.

[VanillaRhapsody]

9. COBRA is worse than that...

[The Velveteen Ocelot]

10. It wasn't for me.

I was paying about $400 a month for COBRA coverage, including dental (although it was a high-deductible policy).

[VanillaRhapsody]

11. 5 yrs ago I was offered health insurance at a company...

My end was over $500 a month...I made $30 grand a yr at the time...$2000 deductible. All because the wife of the boss of the company had breast cancer....Just sayin. You must be male. Women often pay twice as much as men...until Obmacare kicks in...and then they cannot do that anymore.

[The Velveteen Ocelot]

12. No, female. But until I retired I worked for a very large corporation

that was able to offer decent coverage at reasonable rates. While I was working I paid only about $40/month for single coverage, no copay until 2011, when they added a 10% copay. The deductible was fairly high and I contributed to a health savings account, but the coverage was pretty good. I continued it with COBRA after I took early retirement.

[dflprincess]

13. Minnesota has not allowed different rates for men and women for many years. n/t

[NYC_SKP]

15. I was too, three years ago, then I was rehired and left and it costs $1,432.49/month for just me.

Things change quickly, insurance companies are scrambling to screw us all while they still can.

I can't wait for Obamacare.

[dflprincess]

18. This is something I don't understand about health insurance vs other kinds of insurance

If two people buy car insurance from the same company and their variables, age, gender, driving record, car type, etc are the same they pay the same rate. Because when you buy car insurance the risk is spread across everyone who bought insurance from the company - just one big happy "pool".

But, with health insurance, two people whose variables (including health history) are the same will pay vastly different rates if one of those people works for a large employer and one works for a small one or is purchasing an individual policy. Why is it that the risk pool you belong to is limited with health insurance and not spread over everyone who is insured by the company? Has anyone ever heard a rational for that?

[geardaddy]

20. I'm a current MCHA holder

due to a pre-existing condition. I pay $550 a month and have a $1000 annual deductible with a $3000 out of pocket expense. I'm a little nervous about the rates I'm seeing coming up once ACA comes into effect. I'm seeing $2500 annual deductibles, but the rates are lower. I feel lucky to live in MN for this program, but they'll be phasing it out, since everyone with pre-existing conditions can be covered by any policy. I think I'd rather pay the higher rates and and have a lower deductible, but I'm not sure which way will actually save me more money.