Originally Posted by somarco
Almost all of my now former clients saw their health insurance premiums exceed their mortgage in 2014 & 2015. Some are now paying in xs of $2500 per month. Those same clients were paying around $500 monthly for better coverage prior to 2014
People I know in similar situations are bailing to something else unless they have in excess of $2,000,000 in assets excluding their home. Those at $1.5M are on STM, association or religious plans. Most are old and nearing Medicare. All are wondering what the options for 2018 & 2019 will be.
Take only $20,000 in 2017, BCBST is asking for a 21% rate increase which puts the premium at $24,200. Added together that comes to ~ $45,000 for 2 years which will pay for a hip or knee replacement. Buying insurance would have them at the same cost + the out-of-pocket.
Hopefully, Congress will admit that we're not going back to underwriting and pre-ex and do what the carriers know is necessary to run a block of business. It looks like that is a false hope - for now - but mid-term elections will be here soon. Who wants to be the 1st out the door?