11/20/2008 03:10:54 AM EST

American healthcare system

posted by toosinbeymen

This is meant to add a little personal experience reality check to the economy we're living in.

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I just found out there will be a change to our medical insurance arrangement. We need to select from on of the available COBRA plans.

How much will it cost?

For the family plan I had earlier, $1278 medical + $117 dental. That’s per month folks! That amounts to $16,740 a year!

Are other plans cheaper? It turns out the medical plan we were on was right in the range. Other plans are Aetna $1371, Empire $1278 (or if you're retired $2025), Horizon $1106, Keystone $1117, Oxford $1086, Tufts $1011. Aetna was the only dental plan offered.

Marc Maron mentions this on today's Maron v Seder show (19 Nov 08) at http://www.mvslive.co m/ (around 22:50). He posits that one of the first expenses to be cut by families when their finances are strained is medical insurance premiums.

How many people in the US are without medical coverage? Add 3 to that number starting 1 Jan 09.
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American healthcare system | 3 comments (3 topical, 0 hidden)
Costs more and more for less and less (none / 0)

My husband's insurance increased by 18% this year, making his monthly check less than he got last year.

We can't/shouldn't put the insurance companies out of business. There's no reason for that. They still have plenty of good products. But for general health coverage, the private companies will do the clerical work, not make decisions for us. We need the same kind of health care plan that Congress gets, but on a national scale. 

by zenie on 11/20/2008 11:30:55 AM EST

Option (none / 0)
COBRA is always expensive. Get health insurance elsewhere and it will be much cheaper. Prices vary by state, but a plan for a family of three runs about 250 bucks a month where I live.

by Twba on 11/20/2008 02:21:54 PM EST

Cobra Premiums (none / 0)
Your COBRA premiums should be the same as the premium your employer paid with the exception of a possible maximum 2% administrative fee.  Often times employees don't realize how much their employer is paying for their medical insurance until they are no longer employed and they are forced to pay 100%-102% of that premium.  It sounds like you're lucky enough to have multiple options unlike many other people who have the choice of only one plan.  

If you and your family are in decent health, I would recommend applying for an individual plan.  Individual plans can be just as expensive, however, if you are debating dropping your medical insurance in its entirety, you could at least get a less expensive high deductible plan to cover your family just in case of emergency.  Also remember, if you get a high deductible/H.S.A. compatible plan, you can save a lot of money on your taxes as well.

Remember, you have 60 days to enroll in your COBRA plan so maybe try to apply on the individual side and if you are denied before the 60 days are up, you can revert back to COBRA (though you will still be responsible for back premium).  Good luck and hopefully things will get better in the near future for the uninsured and high paying insured.  

by rev24 on 11/20/2008 02:33:56 PM EST

American healthcare system | 3 comments (3 topical, 0 hidden)
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