20-07-2017, 19:18
Ironically I am just in the process of renewing all our employees healthcare plans, so the new rates are now available for what we offer.
For me I have a family plan, wife and two daughters, its a good plan and minimizes the out of pocket costs for doctor visits etc to just $10 per visit, prescription cost is as low as $5 depending on the drug, I pay 10% of any hospital stay and $100 per ER visit but aside from that everything is covered. My cost to get this plan is $1,500 per month and thats after the company pay their 50% of the full plan cost!! As an aside, my cost has reduced this year by about $100, a direct effect of Obamacare. If I was single and just me on the plan then the cost would drop to about $450 per month.
I can also confirm that there is no age distinction in most of the plans, and the ones that do have it its fairly minimal, so someone 25 will maybe pay $200 a month less than me at 53. There is also no discrimination as to pre-existing conditions, in fact there are no questions about medical history on the forms at all. Having said that this is because its a company plan, this would be different for an individual or someone on low income who is taking advantage of the Obamacare plans. For these people this is very likely to change with Trumpcare and anyone with a medical issue is likely to have to pay more.
Once you retire there is little chance you can afford the sort of scheme I have. For starters you lose the company aspect of the plan and become an individual instead, so that in itself would see the premium rise. Most elderly are on Medicaid or Medicare, government schemes to help elderly and low income families get affordable heathcare where the government reduces the cost. These plans are not great but they are a very good alternative. Under Trumpcare these services will be cut back dramatically after 2021 I think, that will adversely affect millions of Americans!! It may well turn out that market forces will see private elderly insurance become a competitive market and we could see private plans come down in price, but I wouldn't hold me breath with that!!!
Health Insurance here is not a savings plan or life insurance policy, its purely a healthcare plan that works for one year and nothing is paid back if you don't use it nor is anything saved or carried forward. Most of our younger employees do not take up the option of health insurance, they would rather take their chances and pay the government fine for not having insurance because its a lot less than the premiums would be.
For me I have a family plan, wife and two daughters, its a good plan and minimizes the out of pocket costs for doctor visits etc to just $10 per visit, prescription cost is as low as $5 depending on the drug, I pay 10% of any hospital stay and $100 per ER visit but aside from that everything is covered. My cost to get this plan is $1,500 per month and thats after the company pay their 50% of the full plan cost!! As an aside, my cost has reduced this year by about $100, a direct effect of Obamacare. If I was single and just me on the plan then the cost would drop to about $450 per month.
I can also confirm that there is no age distinction in most of the plans, and the ones that do have it its fairly minimal, so someone 25 will maybe pay $200 a month less than me at 53. There is also no discrimination as to pre-existing conditions, in fact there are no questions about medical history on the forms at all. Having said that this is because its a company plan, this would be different for an individual or someone on low income who is taking advantage of the Obamacare plans. For these people this is very likely to change with Trumpcare and anyone with a medical issue is likely to have to pay more.
Once you retire there is little chance you can afford the sort of scheme I have. For starters you lose the company aspect of the plan and become an individual instead, so that in itself would see the premium rise. Most elderly are on Medicaid or Medicare, government schemes to help elderly and low income families get affordable heathcare where the government reduces the cost. These plans are not great but they are a very good alternative. Under Trumpcare these services will be cut back dramatically after 2021 I think, that will adversely affect millions of Americans!! It may well turn out that market forces will see private elderly insurance become a competitive market and we could see private plans come down in price, but I wouldn't hold me breath with that!!!
Health Insurance here is not a savings plan or life insurance policy, its purely a healthcare plan that works for one year and nothing is paid back if you don't use it nor is anything saved or carried forward. Most of our younger employees do not take up the option of health insurance, they would rather take their chances and pay the government fine for not having insurance because its a lot less than the premiums would be.