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Health Insurance premium raised $160 this year Is this Allowed?

Health Insurance premium raised $160 this year Is this Allowed? Topic: Companies that help with business plans
June 17, 2019 / By Kaylee
Question: I have a family health insurance plan with Aetna. The first year we had it it was $545 a month the next year it raised to $606 a month which we were not happy about but seemed $60 was not that much of a raise, now this year they just informed us that our plan will go from $606 a month to $765 a month, This sounds like robbery to me! Are they allowed to do that? Now we are going to cancel and switch to someone else. Does anyone have any suggestions on okay health insurance with a resonable premium. We are willing to pay a low deductible ($1000 or less) and low co-insurance(20% or less) We want a company that won't raise our rates 30% every year any suggestions would greatly help. We own our own business and this is just killing us between gas and insurance we may have to close down because we are not making any money. Please Help
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Best Answers: Health Insurance premium raised $160 this year Is this Allowed?

Hortense Hortense | 7 days ago
Yes, a health insurance company can raise premiums. But, you have options- first off you mentioned you are a business owner. Business owners need to make some tough decisions to stay in business, a plan was created specifically for business owners called "health savings accounts" (Aetna and most companies are offering these), high deductible plans- you say you want a $1000. deductible and would like 20% co-insurance- well that is a very expensive plan, the deductible and co-insurance is too low and will cause high premiums and even higher rate hikes as time passes. First ask yourself some important questions, because remember Health Insurance is all about the risks you are willing to take. 1. If a medical emergency were to happen what is the most "out of pocket" you would be willing to pay? (the higher the amount the lower the premiums) 2. Do you need maternity coverage? (Some plans do not cover maternity, perfect for those who don't want maternity coverage- because they will lower premiums) 3. Deductibles, the higher your deductible the lower your monthly premiums. (Family deductibles can go as high as $10,000. in most states) Finally: As a business owner, we must look into the future- we must look at costs associated with the business as an on-going expense. With health insurance we must understand first and foremost how the insurance companies make money; They charge premiums for services you may or may not use- Historically subscribers don't use up those services, consequently the companies collect more premiums than claims that are paid. So if you have a 1000. Deductible with 20% coinsurance- ask yourself, have we met the deductible? and the max. out of pocket? if you have then you are one of the very few that is taking advantage of your plan, otherwise in my opinion your overpaying the company for services that have not occured. Think of insurance like this- "Would you vist a buffet and pay $25.00 for all you can eat, if all you wanted was a cup of coffee?" In essence that is what you are doing when you buy a plan with a low deductible and low co-insurance, a business owner has to weigh his risks, project for future costs. I would advice anyone to look at a high deductible, and to open a separate Health Savings Account (your own money-which you manage) this money will be used for your high deductible, this way you are not prepaying for services that you have not used. You will pay low premiums, and save monies in an account that will have several tax advantages! Take control of your healthcare costs Learn more: www.HSAInside.com
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Hortense Originally Answered: Health Insurance premium raised $160 this year Is this Allowed?
Yes, a health insurance company can raise premiums. But, you have options- first off you mentioned you are a business owner. Business owners need to make some tough decisions to stay in business, a plan was created specifically for business owners called "health savings accounts" (Aetna and most companies are offering these), high deductible plans- you say you want a $1000. deductible and would like 20% co-insurance- well that is a very expensive plan, the deductible and co-insurance is too low and will cause high premiums and even higher rate hikes as time passes. First ask yourself some important questions, because remember Health Insurance is all about the risks you are willing to take. 1. If a medical emergency were to happen what is the most "out of pocket" you would be willing to pay? (the higher the amount the lower the premiums) 2. Do you need maternity coverage? (Some plans do not cover maternity, perfect for those who don't want maternity coverage- because they will lower premiums) 3. Deductibles, the higher your deductible the lower your monthly premiums. (Family deductibles can go as high as $10,000. in most states) Finally: As a business owner, we must look into the future- we must look at costs associated with the business as an on-going expense. With health insurance we must understand first and foremost how the insurance companies make money; They charge premiums for services you may or may not use- Historically subscribers don't use up those services, consequently the companies collect more premiums than claims that are paid. So if you have a 1000. Deductible with 20% coinsurance- ask yourself, have we met the deductible? and the max. out of pocket? if you have then you are one of the very few that is taking advantage of your plan, otherwise in my opinion your overpaying the company for services that have not occured. Think of insurance like this- "Would you vist a buffet and pay $25.00 for all you can eat, if all you wanted was a cup of coffee?" In essence that is what you are doing when you buy a plan with a low deductible and low co-insurance, a business owner has to weigh his risks, project for future costs. I would advice anyone to look at a high deductible, and to open a separate Health Savings Account (your own money-which you manage) this money will be used for your high deductible, this way you are not prepaying for services that you have not used. You will pay low premiums, and save monies in an account that will have several tax advantages! Take control of your healthcare costs Learn more: www.HSAInside.com

Edith Edith
I would recommend one to try this internet site where you can get quotes from the best companies: http://PROTECTIONQUOTES.NET/index.html?s... RE :Health Insurance premium raised $160 this year Is this Allowed? I have a family health insurance plan with Aetna. The first year we had it it was $545 a month the next year it raised to $606 a month which we were not happy about but seemed $60 was not that much of a raise, now this year they just informed us that our plan will go from $606 a month to $765 a month, This sounds like robbery to me! Are they allowed to do that? Now we are going to cancel and switch to someone else. Does anyone have any suggestions on okay health insurance with a resonable premium. We are willing to pay a low deductible ($1000 or less) and low co-insurance(20% or less) We want a company that won't raise our rates 30% every year any suggestions would greatly help. We own our own business and this is just killing us between gas and insurance we may have to close down because we are not making any money. Please Help Follow 4 answers
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Charita Charita
Unfortunately perfectly legal, which is why so many people work full-time and cannot afford or their company does not have health insurance http://www.insurancebrokerquotes.com/hea... I recommend United Healthcare or Humana though. And they are under other name like I think United is GoldenRule or something...but yes if you want that must have your policy start whenver this one ends. or try a Health Discount Plan, which only gives you 20% to 40% off the Doctor Bills but it's through Claims papers...still it's better than paying for out of pocket with all the expenses incurred by yourself...Health Discount Plans are offered for Dental through Sam's Club and such places...an example is below http://www.usahealthcare.com/memberbenef...
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Antonia Antonia
Yes, they can. Lots of luck finding someone to give you a family plan for under $800 a month. Rates WILL get raised every year, as people rarely put in fewer claims.
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Zackary Zackary
I might suggest you to visit this site where you can get rates from the best companies: http://insuranceforcheap.info/index.html... RE :Health Insurance premium raised $160 this year Is this Allowed? I have a family health insurance plan with Aetna. The first year we had it it was $545 a month the next year it raised to $606 a month which we were not happy about but seemed $60 was not that much of a raise, now this year they just informed us that our plan will go from $606 a month to $765 a month, This sounds like robbery to me! Are they allowed to do that? Now we are going to cancel and switch to someone else. Does anyone have any suggestions on okay health insurance with a resonable premium. We are willing to pay a low deductible ($1000 or less) and low co-insurance(20% or less) We want a company that won't raise our rates 30% every year any suggestions would greatly help. We own our own business and this is just killing us between gas and insurance we may have to close down because we are not making any money. Please Help Follow 5 answers
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Zackary Originally Answered: Is there any way that I can use my health insurance to get an abortion done without my parents finding out?
It is possible, but you have to call your insurance company and find out if this is a covered procedure. Unfortunately, some insurance companies don't cover pregnancy terminations unless its a case of rape or it puts the mother's life in danger. If they give you the go-ahead, you have to make sure you are in network, only because the insurance company may send a check made out to you for the services the hospital did, and it it your responsibility to forward that payment. If they do approve, make sure you take that approval number down, along with the person you spoke to. I did collections for a hospital (a major one) and you wouldn't believe the reasons they would deny. Good luck.

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