Question of the Day: Health Insurance

January 20, 2011

Here’s today’s Question of the Day:

How much did your health insurance premiums go up this year over last year?

Our premium went up 9.07% over last year. The trend over the last ten years was much higher, as you can see from this graphic:

I’m not sure what happened in 2008 to cause premiums to jump over 100%. I’m just thankful my wife’s company pays 80% of the premium. I don’t know how long that will continue but I’m thankful for it while we have it.

What about you? What kind of premium increases are you seeing?

12 responses to Question of the Day: Health Insurance

  1. Such a sore subject right now for me as we are seeing 50-60% increases for our small business. Last year we switched to a high deductible health care plan because we were sure our employees weren’t using it. We coupled it with and HRA and sure enough, they barely used it (which is good for us). But with the costs rising so much we are probably going to going to a higher deductible and now only paying for our employees only. We have traditionally in the past always paid 80% but it has just gotten so out of control.

    Another consideration for us is that we have always paid for my dad and brother’s insurance in full (as owners of the company) and that can no longer happen. Everyone has to be treated equally so if we pay only for our employees then we can only pay for my dad and brother and they will have to pay for the rest of the family themselves which is such a bunch of crock.

    Personally I am on my husband’s plan and he works for a Johnson & Johnson. Our premiums only went up 10% and after seeing the increases our business has seen, I was thrilled!

  2. Looking at 7% increase for health and 10% for dental. I’m also thankful the company pays for most of it.

  3. My family has been going naked for the last year and we just recently got health insurance (I’m self employed). I think we’re paying ~$130/month, I would have to confirm with my wife. It’s a high deductible plan. We’re in AZ.

    When I was working for ATK in UT before I quit we were getting the HSA high-deductible plan. The company would pay us $1000 per year to be on the plan. So I guess that would be ~-$80/month.

    We don’t normally use health insurance since we’re into eating healthy, exercising regular, and my wife does home births with a midwife (insurance doesn’t typically pay for this anyways but HSAs will).

    It is interesting to see the results of over 100 years of government interference in the medical community and its results. Higher prices and less care for the poor. Sounds similar to education, costs a ton and the degree is becoming less valuable every year (can’t get high paying jobs to make the education worth it, unless you are in a technical field).

  4. 40% for 2011. We have a HSA plan, which the insurer has never had to pay for a claim as we have yet to reach the deductible, but we still got a 40% increase.

  5. 18.1%, up to $650/month. Just for me. And that’s with a $1k deductible. (I have a serious pre-existing condition.) We pay the whole shebang.

  6. We have nothing to complain about. Last year we had $120×24=$2,880 as our portion of the annual premium. This year $132×24=$3,168. Still a 10% increase, but we used every penny last year: broken arm, mammograms, regular visits for school physicals, my annual, dermatol., etc. I still used every penny of our $4,000 flex (disposable contacts for DH and #1 son ate a big portion, the rest being copays, etc.)

  7. Talked to the wife. We’re paying $145 a month (we pay it all in 6 month intervals $870/6 months). Man, that’s way more than what it’s worth (well maybe not more than it’s worth, we’re paying it). Can’t believe insurance costs that much.

    Our deductible is $10k.

  8. My coverage went up 7%, my wife’s 32% through our employers. In both cases the companies also raised our deductibles to hold the increase down. Another interesting thing is that my wife’s company changed from offering a credit for doing an annual health assessment to making it a penalty if not done.

  9. Down 45%, as a result of (a) being able to bring our 23 year old daughter off Cobra and back under my employer’s plan and (b) employer (as a result of, I think, item (a)) creating more tiers under the high deductible plan option–before there was just individual and “family” and we paid the family rate for just me and my wife, which was the same as if we had many children; now we opt for self and spouse and one dependent.

  10. I am a federal retiree and my premium is going up 6.9%. The government pays 72% of my premium which I also paid during my 33 year career.

  11. HSA with $5K deductible up 18%.

  12. I think it is safe to say that everyone is seeing higher premiums, along with less coverage.

    That’s been my story every year for the past 10 years.