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We're self employed. We get screwed and tattooed by the ACA in every conceivable way. Our premiums - for very uninspiring and basic coverage - are $1137 a month. Yep. Every month.
Keep in mind that the more employees the company has the lower the cost is going to be per employee. Also the health of the employees and their covered dependents will impact the premium cost as will the plan design. The sooner the insurer has to start paying claims, i.e. for an office visit, the more expensive the insurance will be.
The smart employers have a health reimbursement arrangement HRA or a self-insured plan where they reimburse the employee for their co-pays and deductibles after they pay a certain amount so the benefit to the employee is the same as if the insurance company was paying for part of those initial medical costs. However once an employee's claims exceed a certain threshold, the insurance would then kick in.
By not having to have the insurance company process every little office visit, the insurance premium costs are drastically reduced. Both the employer and the employees pay less for their medical insurance coverage, yet the employees don't lose any of the benefit as the employer is reimbursing them for the equivalent of what the insurance would be paying for a fully insured plan. It is a win-win situation. Too bad few if any insurance agents in the Pre-Obama care days bothered to tell employers about it. If they had, there wouldn't have been a stupid "healthcare crisis".
Keep in mind that the more employees the company has the lower the cost is going to be per employee. Also the health of the employees and their covered dependents will impact the premium cost as will the plan design. The sooner the insurer has to start paying claims, i.e. for an office visit, the more expensive the insurance will be.
The smart employers have a health reimbursement arrangement HRA or a self-insured plan where they reimburse the employee for their co-pays and deductibles after they pay a certain amount so the benefit to the employee is the same as if the insurance company was paying for part of those initial medical costs. However once an employee's claims exceed a certain threshold, the insurance would then kick in.
By not having to have the insurance company process every little office visit, the insurance premium costs are drastically reduced. Both the employer and the employees pay less for their medical insurance coverage, yet the employees don't lose any of the benefit as the employer is reimbursing them for the equivalent of what the insurance would be paying for a fully insured plan. It is a win-win situation. Too bad few if any insurance agents in the Pre-Obama care days bothered to tell employers about it. If they had, there wouldn't have been a stupid "healthcare crisis".
Not always. Smaller companies, 150 or fewer employees or so, that are not self-insured usually get lumped into a small employer risk pool expanding their risk pool significantly. The lowest priced plans I see, almost all of the time, are groups between 10-100 employees. HSA plans are almost always the least expensive plans to offer but HRA's are starting to come back in favor again though.
We pay $860 per month this year and will be paying $908 next year. It's an employee health benefit that carried over when I retired, but then they decided that any premium increases would be born by the retiree. Our coverage is for me and my husband. Our deductible is $500 and there are co-pays and co-insurance. Our total medical expense including premiums has been $13,000 to $14,000 per year.
We live simply. We're retired and moved to a lower COL area and don't have a mortgage. We have one vehicle and don't put a lot of miles on it. So, we're managing fine, but I look forward to when we're old enough for Medicare, which will be less than two years for me.
We got the top tier . We pay $200 biweekly for family. We pay nothing at all out of pocket it is that good, plus we get $3000 towards our HSA OR HRA per year. it rolls over we got almost 8k in it. No bills no nothing even after surgery and hospital stay
Well, we were pretty much forced to switch from a PPO to an HMO (we could have gone with a PPO for $400 to $500 MORE per month). We are stuck with $1137 a month in premiums for medical and VERY mediocre dental care. We had to switch our doctor, our hospital, even our dentist.
So much for "if you like your doctor, you can keep your doctor." And I LOVED our hospital system but now even that is out of network, even though it is a huge local system and an award winning one at that, and has the best heart and internal medicine system for hundreds of miles.
Well, we were pretty much forced to switch from a PPO to an HMO (we could have gone with a PPO for $400 to $500 MORE per month). We are stuck with $1137 a month in premiums for medical and VERY mediocre dental care. We had to switch our doctor, our hospital, even our dentist.
So much for "if you like your doctor, you can keep your doctor." And I LOVED our hospital system but now even that is out of network, even though it is a huge local system and an award winning one at that, and has the best heart and internal medicine system for hundreds of miles.
You were not forced, you choose to pay less for a smaller network....
We pay more for our insurance to have a PPO...it's a choice you have to make...
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