Just about every year I write a post about the annual increase in our health insurance (my wife and I). We've had what I thought was the same HSA plan for many years although we have increased our deductible a couple of times so I was not sure whether we were grandfathered or if our insurance would get canceled, sending us to Obamacare.
When I called our insurance company a couple of months ago to find out, they didn't know. All they could tell me is that my renewal date would be pushed back to March instead of the usual November but they weren't sure why.
Today we got the thick envelope from them and the news was surprisingly good. We were not canceled and our premium only went up 10%. We were braced for far worse. A 10% hike is as low as it has ever been. A couple of times it went up 20% and one time we had to double our deductible to keep the same premium.
From Facebook, I saw that quite a few of my self employed friends were indeed getting canceled so maybe we were grandfathered in or we got lucky somehow.
That said, yet another 10% increase reveals that there are still serious problems with health related costs. Quite clearly Obamacare is not going to be repealed but the execution continues to be laughably poor.
It is widely accepted that there are not enough people in their 20's who are signing up. Apparently the age at which "children" can stay on their parents' has gone up from 26 which itself was an increase a few years ago. Oops.
The President set out to improve a wildly flawed system (I don't buy into the theory that he knew ACA was doomed from the start) but arguably made it worse for all the unintended consequences and issues that were clearly not well thought out.
The picture is from Custer City, SD from our trip to the Black Hills about a year and half ago.
When I called our insurance company a couple of months ago to find out, they didn't know. All they could tell me is that my renewal date would be pushed back to March instead of the usual November but they weren't sure why.
Today we got the thick envelope from them and the news was surprisingly good. We were not canceled and our premium only went up 10%. We were braced for far worse. A 10% hike is as low as it has ever been. A couple of times it went up 20% and one time we had to double our deductible to keep the same premium.
.jpg)
From Facebook, I saw that quite a few of my self employed friends were indeed getting canceled so maybe we were grandfathered in or we got lucky somehow.
That said, yet another 10% increase reveals that there are still serious problems with health related costs. Quite clearly Obamacare is not going to be repealed but the execution continues to be laughably poor.
It is widely accepted that there are not enough people in their 20's who are signing up. Apparently the age at which "children" can stay on their parents' has gone up from 26 which itself was an increase a few years ago. Oops.
The President set out to improve a wildly flawed system (I don't buy into the theory that he knew ACA was doomed from the start) but arguably made it worse for all the unintended consequences and issues that were clearly not well thought out.
The picture is from Custer City, SD from our trip to the Black Hills about a year and half ago.
