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Insurers just pass the costs through to consumers. Health insurance premiums have been going up a stupid amount, too.
by PopeDotNinja 7y ago
Insurers just pass the costs through to consumers. Health insurance premiums have been going up a stupid amount, too.
- bduerst 7y agoWhich is why legislation like the affordable care act that limits premiums helps keep stupid behavior from insurance companies in check.
- PopeDotNinja 7y agoRegarding the ACA, as I understand it, there's the 80/20 rule that states insurers must spend 80% of what they make from premiums on providing & improving healthcare. [1] The problem with that is there's no cap on what premiums should be. So if you charge 10K in premiums, and keep 2K, there's nothing in the ACA that is preventing you from raising your rates to 15K to keep 3K. Please correct me if I misunderstand how this works. [1] https://www.healthcare.gov/health-care-law-protections/rate-review/ https://www.healthcare.gov/health-care-law-protections/rate-...
- ddingus 7y agoExactly right. And if you happen to have some preexisting condition, and who doesn't, individual policy prices are insane.
- bduerst 7y agoExcept that the ACA also instututes marketplaces and enforces insurance standards, so that consumers can shop and switch between substitute services if one insurer tries to hike premiums.
- tracker1 7y agoExcept they're ALL hiking premiums... What it comes down to is adding fiduciary responsibility to act on behalf of their clients' interest in negotiating rates, which they don't do and stopped doing.
- toast0 7y agoWhere I am, the 2019 marketplace has two providers, but one of them has a very limited network, so I can't do anything in network without driving at least 30 minutes. So, that's really just one provider and I get to pick which metal I like. What I really wanted to know, but couldn't tell is if I hit the out of pocket max, is there any difference in what's covered by plan. It may be a better marketplace than before, but it's still a pretty shitty marketplace.
- PopeDotNinja 7y agoA few months ago, when I looked at buying private health insurance via the exchange in California, I had never heard of any of the insurance companies & none of them would let me see my own doctor. I was not impressed.
- dragonwriter 7y ago> A few months ago, when I looked at buying private health insurance via the exchange in California, I had never heard of any of the insurance companies Blue Shield of CA has plans available in the full region for each of CA’s 19 pricing regions, and is the third largest insurer in the state.