Health insurance costs. What is yours doing?

[farmerbyron]

At least with being self employed health insurance is tax deductible.


Got a letter today informing me of a rate increase of like $13 per month. I think this is just the regular rate increase that happens every year. The letter also stated that 2 new ACA fees will start on 1/1/14. The Annual fee on Health Insurers and the Transitional Reinsurance Program Contribution Fee. The Reinsurance fee will be in effect for 3 years while the Fee on Health insurers is unending. It did not have estimates of what these fees are going to be.

Just reading this letter, it looks like I get to pay a fine for carrying insurance in the form of these fees. So don't have insurance and they will fine you. Carry insurance and they will fee you. What a fluster cluck.

 

[nich018]

Mine goes up about $20 a month every year, no real complaints there. My wife's has quadrupled since she retired in 2009. Keeps on, and we'll have to go back to work.

 

[jfssms]

How much is the fine for not carring health insurance next year?

 

[RETOKSQUID]

Guess we were one of the lucky ones so far, we get to keep our plan sort of. No longer get to have the Prime coverage because we are not near a base.Ours will go up as well. Not by much, but where they get us is our RX copay! It has almost tripled for most ($5.00 to $35.00) and quadrupled on three ($20.00 to $80.00) doesn't sound like much at first, but when you have 18 prescriptions to refill each month it adds up!

 

[gl55]

How much is the fine for not carring health insurance next year?

In 2014, the penalty for not having a qualified health insurance plan is 1% of your annual income or $95 per adult, whichever is higher. Have kids? The penalty for uninsured children in 2014 is $47.50 per child, with a maximum per-family penalty of $285.

In 2015, the penalty increases to the higher of 2% of your annual income or $325 per adult.

By 2016, the penalty goes up to 2.5% of income or $695 per adult, with a maximum penalty of $2,085 per family.

After 2016, the amount of the penalty will be adjusted for inflation.

The amount of the annual penalty is based on the number if days or months you go without health insurance after March 31. If you have insurance for part of the year, the penalty will be prorated and if you are covered for at least 9 months during the year, you will not pay a penalty.

Along with paying the Obamacare penalty, uninsured persons will continue to be financially responsible for 100% of their health care costs.

The nonpartisan Congressional Budget Office has estimated that even in 2016, more than 6 million people will pay the government a combined $7 billion in Obamacare fines. Of course, revenue from these fines is essential to paying for many of the free health care services provided for under Obamacare.

But remember, it is not a fine. The Supreme Court ruled it is a tax, not a fine.

 

[RickN]

All this is why they changed the front page on the Obamacare website.

[Broken External Image]

 

[AKguy1985]

Mine has doubled since 2008. We find out tomorrow how much more it goes up.

 

[aeropb]

news flash, going up like everything else

 

[JCW355]

Minimum Insurance Coverage Required

Whether you have health insurance now or buy it through one of the Obamacare state Insurance Marketplaces, your insurance plan must cover 10 minimum essential health care services. These are: outpatient services; emergency services; hospitalization; maternity/newborn care; mental health and substance abuse services; prescription drugs; rehabilitation (for injuries, disabilities or chronic conditions); lab services; preventive/wellness programs and chronic disease management; and pediatric services.

If you have or buy a health plan that does not pay for those minimum essential services it may not qualify as coverage under Obamacare and you may have to pay the penalty.

Seems like you should be able to keep what you have and just pay the penalty.

I wonder how many people will fall under this, my deductable has went up to keep my monthly cost down

 

[cjjtulsa]

Just got my letter from BCBS yesterday - I must be somewhat lucky, as mine's only going up $20 a month after the first of the year. It typically jumps about that much every quarter, but this time they referenced fees associated with the Affordable Care Act.