What did the rates look like BEFORE ObamaCare?

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People have been talking about the premiums that health insurance companies are charging and you hear on the news all the time how much health insurance rates are going up..... but in reality, how much have they really gone up since 2013...Prior to ObamaCare

I dont have a sheet that shows all the rates for each age group for 2017, but I will give you a few examples.

If you are not aware, Blue Cross is pretty much the only carrier in upper East Tennessee outside of Farm Bureau that is offering coverage in our region.  Blue Cross is only offering 4 plans so I can't match this plan that they had then.  The plan I am going to compare it to is the new Silver 04 plan that has a $2,000 deductible and $5,100 maximum per person out of pocket.  So the deductible for this plan is lower than the one in 2013 but the maximum out of pocket is higher.

Under 18 was 50.57 per month... now $227.

29 Female was 105.70  (add maternity to that is $100 more) per month... now $400 - Male was 75.41 and now $400.  So a married couple who wants to have kids was $281 per month and is now $800.  If they did not or could not have kids, they could have been at $181 per month and now they dont have an option, still $800 per month.

49 female was 167 (add maternity to that is $100 more) and now is $610.

Male was $136 and now is $610.  Married couple was $400ish a month and now is $1,220  If they did not need maternity it would have been $300ish.  

Family with husband and wife at 49 and 2 young kids....

Was $500ish per month with maternity and $400ish without

Now $1,465 per month...

Tobacco rates were surcharged much more in 2013 but the difference is still huge.

The only thing that you get now is a free check up and dental and vision for your kids.

The whole additional premium is based on the fact that you are merging male and female rates, requiring maternity, and eliminating pre-existing conditions.  The carriers that have exited the market will tell you that the population is a lot less healthy than they originally thought....and they thought it was pretty unhealthy!

If you are getting tax credits, I dont think you will see a rate increase at all, but check out my other blog post for additional information - http://veritasrm.blogspot.com/2016/10/yes-some-people-will-have-rate-decrease.html

If you are not getting tax credits and feel like you dont have any options, give us a call.  There are some options out there if you are a business owner and we would love to share those with you.

We can not sell individual health insurance policies anymore, but we are happy to answer questions and we are still able to service our existing clients and can sell Medicare Supplements and Group Health Insurance..  Feel free to contact our office if you have questions or if we can help in any way.  Our office number is (423) 292-4142.  Again, we can still help with Group Health, Home, Business, Life, Auto, Work Comp, and anything else that ends in insurance.