Here's what gets me. Isn't the ACA a federal law? If so, why are the states being asked to come up with pools to choose from? It should be a national thing and people who make the money I make, regardless of where they are located, will be paying the same thing.
Thinking out loud here....
I hear you. My first thought would be our states have very small populations, so the "pool" is smaller. I'd like to see that chart (I'm into charts) include state populations and # of insurers represented in each state..
If I were you and your husband the Medicare office would be my first stop. You wouldn't really buy the supplement from Medicare; you buy it from an insurance company, but it supplements his Medicare.
Again, there might be some homework to do, because if he's not 65 and on regular Medicare, there might be different rules. Yep, the Medicare office would be my first stop.
Isn't that a fine how do you do? I don't understand the reasoning... in fact, I don't even know the reasoning behind the prices for Wyoming. Truth be told, I didn't read the article in the link you sent, but I did look at the table. It makes no sense to me that Wyoming would be the most expensive to insure.
First, thank you both.
I did not know that is how people handled things. Admittedly my husband is on Medicare much earlier due to his disability. My Dad always said it was best to keep the fed ins as well as the Medicare however my Dad pays nothing for Tricare for Life, and his Medicare is his primary,
Barb, I see what you are saying about prescriptions. My ins pays for all prescriptions and that is well worth the money we are paying but I may be able to get a better supplemental from Medicare, drop him from my Ins (which really is not being used due to Medicare) and I could save half to buy a life ins policy for him LOL. Just kidding.
Again, both of you have been so helpful. My husband and I were just talking about it and I still had my head in the box, saying we have to keep regular ins for you. Maybe that is an old way of thinking.
Maybe back when my Dad was young it was a good way to go but now we are over insured and under fed :)
D
I totally agree that it's "intentionally confusing", but I'm not sure the insurance companies are the only ones who get the blame; they keep changing rules for Medicare, as well, and just about the time I think I have it figured out, something else comes up.
We'll be sitting down with several different agents, to get the best deal for my husband. It's not like being at work, where you choose from Plan A, B or C... it's all about the homework.
Whether intentional or not (I suspect intentional) the insurance industry has made things so confusing it is almost impossible to figure all this stuff out.
I try and read what I can, but being 10 years away from medicare age obviously less of my focus goes into this area.
Even the new policies offered on the exchanges are absurdly confusing to do comparison shopping between the offered tiers. Shame they can't simplify the legalese of the policies so we could understand them.
Dee, I'm glad to see you are doing your research, makes those phone calls. You're already paying the salary of the person on the other end of the phone line, in a sense they are your employees.
Good luck
Don't feel badly... The whole thing can be quite confusing and if I hadn't dealt with some of this stuff, with my late aunt, I wouldn't know it either; that, and the fact that we are being inundated with phone calls from insurance companies wanting to sell my husband a Medicare supplement.
Do your homework, but you should be able to find a reasonably priced supplement for your husband that will pick up most, if not all, the cost of medical care that Medicare doesn't pay. Also make sure he has some type of drug plan. Talk to your insurance agent (or company), or if your plan is through work, talk to the administrator. You can even talk directly to Medicare and they will tell you what's required for your husband.
Thank you for your quick response. I feel stupid. I did not know that people did this.
$1,000 a month? ARGH! I guess I should not complain about the $500
I was always told to keep my ins when Medicare kicked in but the costs are really killing us.
I see my life ins cost is as well.
I just looked at the "Obamacare" and it appears it would be much cheaper, based on our income for me to take it.
However I always thought my federal ins was the best to have.
I appreciate you helping me think outside the box as far as what coverage we need. It sure would save us a lot of money if I just got a single plan for me.
Have a great day
Dee
Typically, when one gets to Medicare, they drop regular insurance and get a Medicare supplement, which is much less expensive than regular insurance.
My husband and I are currently paying $1000/month to stay on the plan I had when I was working (we pay entire premium). My husband will go on Medicare in Jan, so I'll be able to drop him off my policy, which will be drop my premium, considerably. Open enrollment isn't until Oct, so he'll start looking for the best supplement.
Some insurance companies offer free supplements... check with AARP.
Hi if you don't mind me asking, is this a normal process? Once one gets to Medicare they drop the other insurance? I always thought you were supposed to keep both.
I am struggling with high insurance costs, due to disability my husband has Medicare and my ins as a back up.
With the costs getting so high (I am paying $500.00) I have been considering just getting a single plan however don't want to leave my husband in the lurch as I have heard Medicare doesn't pay for every thing.
I just tried to take a look at the "Obamacare" while prices are not up until 10/1 it looks as if the plan for us would be much cheaper than staying with my ins. Of course we have no idea what kind of coverage I was just trying it out on a system that is up and running now.
https://www.healthcare.gov/
Thanks for this post and all your answers, I am struggling with this.
Dee
"But the monthly cost is higher than the $392 estimate in seven states, topping $400 in Alaska, Connecticut, Indiana, Maine, Mississippi, Vermont and Wyoming. The latter’s $516 price tag on the second-lowest-priced silver plan is nearly 32% higher than the forecast (see chart below)."
There after us both of us Brice!
http://www.marketwatch.com/story/the-50-states-of-obamacare-2013-09-27
I think it will always be called "Obamacare", but if people come to like it, it'll be referred to, in a much different tone... more of respect than disdain.
Retired from our County School Board, I'm still getting insurance, for both myself and my husband through them... My husband goes on Medicare in Jan, so that just leaves me to be covered... I'm still waiting to hear if I can keep my policy or if I'll have to go to the exchange... I pay the entire premium ($1000/mo for both of us), with no portion paid by the School Board, so should qualify for a subsidy. Or will I not get the subsidy, because I'm not buying it on the exchange?
I agree that there were too many questions left unanswered and like SM, Pelosi's words ring in my head... why would anyone think the American people didn't have a right to know what was in the law, before it was passed. I agree that it's time to move past the bad feelings, and stop fighting over it. It's done, we know there will be "technical difficulties" when it comes to implementation and we know there will be people "playing" the system, just like they do with everything else... nothing new, there..
Somebody put a muzzle on Ted Cruz, Mike Lee and the rest of the tea party and let's "get 'er done"...
I saw Obama speaking yesterday and he made the point that if/when people come to like Obamacare it won't be called "Obamacare" and if it does gain favor I agree that all of the current detractors sure won't be calling it "Obamacare". I rarely think he's funny but this time I really did.
Interesting question, but doesn't it really come down to what you want/are able to pay for the supplemental insurance (how good of a policy) above medicare anyways once your reach the qualifying age?
I have a good friend, early 40's retired NYP, his insurance is paid in full until he hits medicare age, then it stops.
So, I was thinking about this. I wonder what is going to happen to the next aging generation. My father in law worked for the same company for a long time and retired with full benefits including pension and medical insurance. Really great insurance, as good as what we have currently with my husband still employed. Companies have done away with this---- so when my husband retires, we will have no health care coverage. Most will be in that boat, I'm afraid. We'll be stuck with medicare which really stinks!! Or have to supplement. Wondering if the ACA will help people in that position pay for supplemental insurance to go along with medicare??
That will be a big group of people I'm afraid in about 15 to 20 years if not sooner.
I stand corrected, your population is smaller! (by 50K)
Brice first of all, my state has a smaller population than yours, although only by 75K :)
I did read the demographic that benefits most from Obamacare are those 54yo-65yo , of which I am one.
Thought I also read if your company subsidizes the cost of your insurance, you will not get a federal subsidy.
Will young people pay a lot more under Obamacare?
By Tami Luhby @Luhby September 27, 2013: 6:12 AM ET
NEW YORK (CNNMoney)
There are many assumptions about what the effects of Obamacare will be. This series aims to separate myths from realities and answer questions surrounding the Affordable Care Act.
Myth: Young people will pay a lot more for insurance under Obamacare.
Reality: It's true that premiums will likely rise for some young adults, particularly men. But that doesn't take two important considerations into account: federal subsidies and more comprehensive coverage.
The Obama administration Wednesday released a first look at how much consumers will pay for premiums in 36 insurance exchanges partly or fully run by the federal government. The exchanges open for enrollment on October 1, while coverage begins in January.
The new data showed that in Indianapolis, for instance, the sticker price for the cheapest bronze plan for a 27-year-old will be $204. Right now, he can get a policy for as little as $52.50, according to eHealthInsurance, an online marketplace.
In Fort Lauderdale, Fla., the least expensive bronze plan will cost $128, compared to $66 today.
But those comparisons are very misleading because they do not take out-of-pocket costs and coverage limits into account, said Linda Blumberg, senior fellow at The Urban Institute. The cheap insurance policies today have very high deductibles -- $10,000 each for the Indianapolis and Fort Lauderdale plans -- and don't cover mental health, brand-name drugs or pre-natal care. The out-of-pocket limit in each of these plans is $12,500.
"Part of the problem with these plans is that people think they are insured until something bad happens and then they find out they aren't covered," she said. The Obamacare plans are "real insurance."
Related: What you'll pay
Under Obamacare, the plans must cover an array of basic health benefits, including prescription drugs, maternity care and mental health. The out-of-pocket max is limited to $6,350 for an individual so the deductible on the bronze plans can't be higher than that.
And, Blumberg notes, the cheap plans on the market today are only available to healthy young adults with no pre-existing conditions. But insurers must offer the same coverage to everyone -- regardless of their health history -- under Obamacare.
Also, sticker prices on the Obamacare plans are not what most young adults will actually pay, Blumberg said. Single people earning less than $46,000 will be eligible for federal subsidies to defray premium costs. The size of the subsidy is based on age, income and residence.
So if the Indianapolis resident makes only $25,000, he will pay $70 for the bronze plan, while the young man in Fort Lauderdale would pay only $74, not too much higher than the current rates.
Young adults up to age 30 can also sign up for more bare-bones catastrophic plans under Obamacare, but they won't be eligible for subsidies. Such plans would cost $170 in Indianapolis and $86 in Fort Lauderdale.
http://money.cnn.com/2013/09/27/news/economy/obamacare-young-premiums/index.html?hpt=hp_t2
When you look at the healthcare costs and results in the US we really rank low. As a country we have an inferior system - we pay 2.5 X more per capita and our results rank way down on the list of industrialized countries. But my case is illustrative I think. I had a liver transplant in June 2000 and I hardly paid a dime for it along with the 3.5 years of treatment that followed including 2 or 3 acute organ rejection episodes. Then in May 2005 I had a serious motorcycle accident and was hospitalized for one month and had a year of rehab and again, all I paid was drug and doctor co-pays. So anecdotally - from my personal experience alone - we have fantastic healthcare. The trouble is that I am not the average American. We do so poorly as a country because the less fortunate Americans don't have access to heathcare. That's why I think a lot of people think they hate the ACA. Of course, they hate it - they don't need it because they're doing just fine - they can afford healthcare and the have no pre-existing conditions that would exclude them. Oh yeah, there has been a huge problem with increasing premiums over the last couple of decades and if that trend was allowed to continue only the really affluent would be able to afford a solid plan. So, in my opinion, something had to be done - something to stem the tide of increasing premiums and something to provide access to healthcare for the less fortunate citizens. I agree with Specialmom - let's run with it and see how it works. I'd bet it's going to work out fine but it will need a little time and space.
I am definitely one of the ones that was opposed to the ACA. I know we needed changes to healthcare in America but there were--- still are things I do not like about the ACA. Especially hate how it went down and think that more support could have been given to it had it not been for the method in which it happened. Pelosi's words still ring in my head about it and the attitude from Washington that we the people didn't really need to understand it before it was passed. I really think that they forgot that those in Washington work for us and need to take into account if half the country is unhappy about something. But I understand the dynamics of Right verses Left and no one working together to make progress and solve problems and the Left just wanted to get it done. And they did.
My bad feelings about it are okay to have. But now it is time to move past that. I think this limbo period and continuing to fight over it is hurting our country. It's a done deal. Let's just make it happen and see how it goes.
You know, its not that I ever saw the thing as "bad", it's just that there are so many unknowns at this point. As Proactive mentioned, I have concern about how these subsidies will be paid for down the road.
(This is just my opinion, but I think our politicians have a recurring problem trying to "save" the American people without doing their homework and figuring out how to pay for these things up front. We tend to just do things, and when they wreck.... we scramble for a way to try to save what is trying to "save" us.)
mike, the reason why that scenario about the guy from Wyoming strikes a nerve with me is because I live in Wyoming and am 46 years old. I am trying to wrap my head around the fact that the least populated state in the nation is one of the more expensive to insure. There are dozens of cities with populations greater than all of Wyoming's population.
According to what I read, I would not qualify for subsidies (which I find amusing or troubling depending my mood) if I lost my employer paid insurance benefits. I would have to choose to pay a fine, buy insurance, pay for meds, help my kids with college.... This is where it all gets foggy for me.
"I worry as well. My fundamental belief and starting point is that no one should be without insurance/access to healthcare. Given that - how can we not afford it? That's the only thing money is good for when you get right down to it."
My thoughts exactly...
Brice Proactive
I wish more people would be like you guys and actually research the Affordable Care Act and see its not SO bad...BTW it is here to stay:) that's a good thing...
One thing I do believe is that it is here to stay, hopefully refined as we go along..But let's face it, imo our government(Fed.) is currently broken or better yet non-functioning.Maybe state governments can step up to the plate, but they're yet to be tested as well. Once the federal $'s stop coming into the states is when it will get interesting (3 years?) But once you see more corporate pensioners being shifted to Obama care, and it is already happening on a large scale, (a few recent PR's from some large corps) again imo, it's here to stay.
(glad to hear your wrist is feeling better)