Our Health Insurance Premium Going Up 25%

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

As I just said elsewhere, there are a lot on untimely decisions being made right now, at extremely untimely times.

Just as folks are least able to absorb another rise in a necessity, out health insurance company is raising premiums 25%. We just have, high deductible bankruptcy insurance, and only benefits we use is a $30 office visit payment and the fact that they adjust bills to the standard that is allowed.

$600 a month just for that!!!!

Something an agent once told me, and something I do, is that when you take out a new policy you are placed in a new group, a group that has no cost history yet. Then, as that group starts having medical expenses, the insurance company adjust everyone's premiums up to account for it.

So, every few years you should move your health insurance . . . sorta start over with a new group.

Any thoughts about that?

Or, like many are doing, just say screw it, and go naked.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Your agent doesn't understand the actuarial process. Even though they might be new, there is a wealth of information and experience out there to base premiums on. The only reason for lower rates would be to attract and build up a block of business.

We use to say that actuaries could tell you how many people of a certain age group would die in a given year. The mafia could tell you who they would be.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Suit yourself. That'll work. I don't care why the rates are lower.

The only reason for lower rates would be to attract and build up a block of business.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Suit yourself. That'll work. I don't care why the rates are lower.

As with anything, you always have to shop for a better deal. I've had more than one car insurance carrier and, this year, we're likely to change homeowners insurance carriers as well. I can't say that every time the new company has been a "new" company. They just did a better job of underwritting their business and keeping control of costs.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

and shop I will

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Huh!?

Today we received letters from our insuror talking about us making a change in our coverage, as if they expected it.

They said we may select an effective date of Jan 1, 2009 or Jan 1, 2007, the original date of our plans.

They said if we select Jan 1, 2007, and select a plan with higher premiums, we will have to pay the higher premium difference back to Jan 1, 2007. And, our claims will be processed back to that date according to the new plan's benefit.

They said we cannot pass Go and we cannot collect $200.

In the last two years these folks made over $10K off of us . . .

Are people in business today fricking crazy, or does it just seem that way?

[bnoble Senior Member Find all posts View Profile Close bnoble]

Perhaps they just assume that enough of their customers are stupid enough to say "sure, yeah, whatever."

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I'm chuckling . . . the thought of doing business, or anything, backwards is amusing.

First I'm thinking of the several thousand customers we had in our business, that perhaps there is an opportunity for me to go back and say, "Oh no, I didn't mean $50, I meant $150. Please send $100 forthwith."

Or, No, I did not have sex with that woman.

See, it can be done . . . and undone.