Health Insurance Costs- NH (deductible, income, estate)

[GraniteStater]

I was just speaking to my mother today about the cost of their health insurance. It is going WAY UP again. They are retired and my father has a preexisting condition (type I diabetes). I was pondering why NH has higher health insurance costs than other states? The increases are getting completely OUT OF CONTROL

[buck naked]

I agree - my insurance costs are 1/3 of my income. The rates doubled 4 years ago and doubled again this year, and the deductible went up $1K.

Between the insurance companies and the banks, we the people, are being repeatedly screwed while they become richer than ever.

[GraniteStater]

^
I completely agree. However, based on the research I see NH has MUCH HIGHER health insurance costs than other states. For the life of me, I cannot figure out why that is... Is it the way the insurance market is structured in NH? Other posters can jump right in if you have additional knowledge about this..

[buck naked]

in 2003, the NH Legislature passed SB 110 and reintroduced underwriting policies that had been made illegal in 1994. The resulting effect was raised prices for the elderly and infirm while rates were lowered for the young and relatively healthy working public.

In 2005, they scaled back SB 110 by passing SB 125. This allowed the costs to be spread across everybody. It worked for the short term, but now the costs have caught up and must be raised again across the board.

[seamusnh]

Many health insurers are raising their rates now in anticipation of not being able to do so next year due to Obamacare....

As for the costs, NH is below average:
NH: $12,227
US: $13,027
ME: $13,522
MA: $14,723
VT: $14,558

Health Insurance Premiums-NCSL

[GraniteStater]

Originally Posted by seamusnh

Many health insurers are raising their rates now in anticipation of not being able to do so next year due to Obamacare....

As for the costs, NH is below average:
NH: $12,227
US: $13,027
ME: $13,522
MA: $14,723
VT: $14,558

Health Insurance Premiums-NCSL

You can tack on a much higher amount than that if you have only one preexisting condition.

[Mac_Muz]

I have no idea how anyone can afford it. A lot of people in NH don't make as much as that cost is.

[dyrewolf31]

Granted I'm young and healthy, but isn't it just the case that rates are generally low for people like me, and high for those who aren't young and healthy? I pay into insurance every month, but I haven't taken a nickel from Blue Cross in probably 2 years. Ergo, my rates are pretty reasonable.

Like Obamacare or not, health insurance is really expensive, and when you *need* something from them (meds, office visits, etc) they are going to mark it up.

If you don't like the system, dump insurance and just pay everything out of pocket. After all, isn't most health insurance (especially Medicare) just a socialist institution?

Originally Posted by GraniteStater

I was just speaking to my mother today about the cost of their health insurance. It is going WAY UP again. They are retired and my father has a preexisting condition (type I diabetes). I was pondering why NH has higher health insurance costs than other states? The increases are getting completely OUT OF CONTROL

[seamusnh]

Originally Posted by GraniteStater

You can tack on a much higher amount than that if you have only one preexisting condition.

If this is the average for the state, then it would take into account people who have gotten insurance with a pre-existing condition.

[NHForester]

Buck Naked is exactly right. Under Shaheen, the state made it unprofitable for health insurance companies to do business in NH.

My company's plan is increasing our premiums by over 70% come January! We will not be able to offer insurance anymore if we can not find a reasonable alternative. It will be much cheaper to just take whatever fine we may get under Obamacare than pay those kinds of rates.