Friday, October 09, 2015

About that 3000% rate decrease: Part 6,549

Bill and Susan have a grandfathered HSA-compliant health insurance plan which covers them and their three children. Because it's Grandfathered, it's immune from some ObamaTax requirements (such as maternity coverage), but it also means that they can't make any changes (such as increasing the deductible to save premium dollars).

Their December renewal landed on my desk the other day, and it's a doozy. Their plan has a $6,000 family maximum out-of-pocket (MOOP), and their rate jumped 30% to just under $1,000 a month. They're not subsidy-eligible, so no help there.

Of course, I suggested that we shop around, but (as usual nowadays) I warned them not to get their hopes up.

Which turned out to be good advice:

Company A offered a plan which doubled their family MOOP to over $12,000, and cost $15 a month more than their renewal, Yippee!!

Company U had a slightly better "deal:" Bill and Susan could shave $20 a month off their premium, and only double their out-of-pocket.

Or they could choose a plan with only $1,300 additional exposure, and a slight premium increase of only $200 more than their renewal.

Such a deal!
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