Minnesota

dflprincess

(29,309 posts)

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

Mon Sep 2, 2013, 12:07 PM

Sep 2013

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?

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So I was playing with the MnSure premium calculator [View all] dflprincess Sep 2013 OP

it's only tangentially hoped to be affordable.... mike_c Sep 2013 #1

Which is why I often refer to as dflprincess Sep 2013 #2

Thank your stars you aren't in my shoes. You'd be singing a different tune. NYC_SKP Sep 2013 #14

I have been in your situation dflprincess Sep 2013 #16

I have to admit that I didn't check your state's rates, I checked my own. NYC_SKP Sep 2013 #17

And I did not check New York's rates- I imagine they would be higher than Minnesota's dflprincess Sep 2013 #19

Doesn't the current law require that the insurance companies SheilaT Sep 2013 #6

have we forgotten the subsidies? VanillaRhapsody Sep 2013 #3

Once a single person has an adjusted income of $46,000 they are not eligible for subsidies. n/t dflprincess Sep 2013 #7

$782/mo, with only a $2500 deductible at age 60, no pre-existing, etc., sounds decent. Hoyt Sep 2013 #4

Much of what we call preventive care are actually screening tests dflprincess Sep 2013 #8

Holy crap. I thought COBRA was bad. The Velveteen Ocelot Sep 2013 #5

COBRA is worse than that... VanillaRhapsody Sep 2013 #9

It wasn't for me. The Velveteen Ocelot Sep 2013 #10

5 yrs ago I was offered health insurance at a company... VanillaRhapsody Sep 2013 #11

No, female. But until I retired I worked for a very large corporation The Velveteen Ocelot Sep 2013 #12

Minnesota has not allowed different rates for men and women for many years. n/t dflprincess Sep 2013 #13

I was too, three years ago, then I was rehired and left and it costs $1,432.49/month for just me. NYC_SKP Sep 2013 #15

This is something I don't understand about health insurance vs other kinds of insurance dflprincess Sep 2013 #18

I'm a current MCHA holder geardaddy Sep 2013 #20