Insuring your health – protecting your pocket book

While brainstorming/networking with a group of women business owners I found that what we all paid for health insurance was really across the board:  And I was pretty confident that this was a group of similar age and that we all enjoyed good health.  By across the board, I mean that some of us were paying around $200 per month and others were paying $800 per month.  And the later group could not exactly explain why they were paying so much more.

First, I should let you know that I consider insurance protection for the catastrophic.  I like the high deductible plans that cover my preventive care 100%.   And I do my own cost containment by always starting with my Albany acupuncturist who seems to fix just about any symptom, that’s not structurally related, under the sun.  It’s not covered by health insurance and I typically get out the door for $65 including the Rx.

So while my premium had been $163 in the not too long distant past, it went up to $205 with a rate increase.  And then I knew I would have an increase due to age change I decided t o shop.  Ultimately I decided it was worth the increase cost to lower the deductible and stay with the same company.  I would lose some coverage but overall the plan was a better value.

And I requested a change in policy.  Since it was a lower deductible, the insurance company took it upon themselves to rate the “new” policy now was $274.  At this point, I was annoyed as I did not think the rating was reasonable.  So I had them reinstate the higher deductible and began the process to have the rating reviewed and removed which eventually did happen.  Ultimately I ended up with a “reasonable” premium of $219.

My point is how quickly the premium went up 68%.  And I wondered if most people would have the assistance of a good health insurance agent and nurse practitioner to help them fight the rating and to design a more affordable policy.

My suggestion is that you review health insurance premiums that you pay and ALL your options.  May be being covered as a spouse is not the best value?  May be a good agent can help with plan design to meet your needs?  May be another company will offer a better value for your age or plan design.  Need some referrals or suggestions?

SAVINGS:  $55 per month