Tuesday, July 05, 2016

Still another 3000% Rate Decrease

This never gets old:

As we've previously mentioned, Grandmothered plans often renew mid-year (that is, not on January 1), and very few carriers acknowledge them as Special Open Enrollment triggers. In fact, here in my area, there are exactly two that do so, one of which is the current carrier, and the other doesn't offer any plans comparable to what this particular client currently has.

Ralph and Laura's plan is an HSA with a $3,000 deductible ($6,000 family max), currently running them $805 per month. Their renewal is a "modest" 17%, meaning their new premium will be $945 a month.

They have the option of "upgrading" to a new ObamaPlan, also HSA-compliant; unfortunately, the closest I could come has a $4,000 per person deductible (33% higher), and clocks in at a hefty $1,500 a month (a mere 60% higher than their renewal).

Think they'll bite?
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