Blue Cross has already been raising my rates every quarter for over a year now in preparation for this. For my PPO, a year and a half ago my monthly premium was around $750. Now it's now almost $1,000.
It's unsustainable.
Yep, I’m with BCBS of Massachusetts (even though I’m in NC, my company is headquartered in Boston) and my premiums are going up over 20% next year. It’s an effective 2.5% pay cut for me, after getting one 3% raise in the past five years. I’ll be paying almost $350 every two weeks for our plan (which is pretty decent, no complaints about it) and that’s just my contribution, not whatever my company kicks in.
I can’t complain about the plan, but wow was it a shock during open enrollment this week to see those numbers. Thanks, Zero. No, really, thanks.
}:-)4
That's the idea.
Rates will rise because the Gubmint is mandating that a Health Insurance Company must return 85% of its Gross Revenues to Policyholders in the form of Benefits.
The Company has to operate on 15% of Revenues, that means covering Salaries, Buildings, Lawyers, Toilet Paper, you get the idea. Rates have to increase to cover reality by expanding that 15% to a sustainable level.
Remember America? It used to be around here somewhere.