How much will your premiums increase under Obamacare? See table for each state

[Quantum Windbag]

My employer subsidizes medical insurance for all its employees (that choose to participate). Effective Jan 1 2014 they will no longer subsidize insurance for part time employees, only for full time employees. That means about 1/2 of the companies 60,000 employees can no longer secure medical insurance through the company. In all honesty, I have no idea how many part time employees are actually obtaining insurance through the company.

In the past, the company has offered 5 different plans. A bronze, a silver, and gold PPO, an HSA plan and a Limited plan. Anybody that has insurance through their employer is probably familiar with the 3 PPO's, they have various deductibles, co-pays and max out-of-pocket tied to the cost of the plan. The limited plan was very cheap, but it didn't cover much. It was probably typically used by lower paid or part time employees that needed insurance for a maintenance medicine such as diabetes meds or high blood pressure meds and not a need for other medical services. The HSA plan was ideal for healthy people like me. It is a fairly low cost and high deductible plan. The individual is responsible for 100% of medical costs until the deductible is met. Whereas a PPO would cover a standard office visit with a partial co-pay, the HSA participant would pay all of a standard office visit until his deductible was met. Additionally, participants in the HSA (Health Savings Account) can contribute monies pre-tax to an account and use those monies for medical costs to cover for the deductible. Those monies are in an interest bearing account and that account belongs to the participant and those monies are never lost. Even were I to leave the company, I would still own that account and be able to use it for medical care costs. In my case, I contribute $1500 annually to the account. After 2 years and 9 months of being in the HSA I currently have slightly over $4000 in my HSA account. Again, that is because I am pretty healthy and have had minimal health care needs.

So, beginning Jan 2014, the company will only have 2 options for health insurance. The limited plan obviously does not meet ACA standards, so it was dropped. Of the 3 PPO's, the bronze did not meet ACA standards, so it was dropped. Of the other two PPO plans, the company decided to merge them and only offer one PPO. I suspect the primary reason for doing so has more to do with the company wanting to simplify their management of health insurance coverage, not so much with ACA laws and governance. The other option is the HSA. The plan I have had and will continue to have, but it did change some.

The HSA (2013) costs me $140 a month. For that, I cover all medical expenses until I meet a $2000 deductible. After hitting that $2K, I would then pay 20% of any medical costs up until I would hit a max out-of-pocket of $4000.
Beginning in 2014, the HSA will cost me $178 a month. For that, I will cover all medical expenses until I hit $2500. After hitting the $2.5K I will then pay 20% of any expenses until I hit the max out-of-pocket of $3300.
So, the initial deductible (amount before insurance kicks in) has increased 25% while the max out-of-pocket has decreased by 17.5% all for a premium that has increased by 27%. Only one year in my entire life (and I have surpassed the half century mark) have I had a single year medical cost exceed $2000. My personal costs, that doesn't include family costs, because I damn sure paid well over $2K for the birth of my first daughter because my wife didn't have insurance at the time (the pregnancy was not intended).

Now, don't get me wrong, I'm not bitching, I just wish I could pay less for my insurance now, have a higher max out-of-pocket (which I can afford and have only once hit so far), and invest the difference for the future. Because, at some point in the future I will need more medical treatment and it may be expensive and I probably won't be working when that day comes, so my employer won't be subsidizing my insurance.

I can't begin to comment or understand your finances but I can comment on your statement of being over 50 and not ever having medical cost exceed $2,000 in a year. My experience was much the same except my medical expenses probably didn't exceed a $1,000 in any year. However, when I was 56, I was diagnosed with prostate cancer. My total cost of treatment was just over $50,000. During that year I had another illness requiring hospitalizing and surgery with a cost of just over $45,000.

I think one of the biggest misstates younger people make is thinking that past medical costs are predictive of the future. It's not a question of if you will have large medical expenses but rather when.

Yes, it is more a matter of when, not if, that is why I have always carried insurance. Now, more than ever, I am at the age when that "when" could be any day. For the past 30+ years the insurance companies have made a profit off of me, and I'm OK with that, the insurance is peace of mind for me.

Why do the people how keep saying shit like this never actually provide links to back their contention up?

My guess, they don't have any.