Do you have health insurance? If so, are you covered under your employer's plan

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  1. CorinneM profile image59
    CorinneMposted 9 years ago

    Do you have health insurance? If so, are you covered under your employer's plan or do you have an in

    I am trying to get a sense of the truth in the numbers being published about the number of uninsured people in the US

  2. lrohner profile image80
    lrohnerposted 9 years ago

    I, for one, do not. Decent insurance rates are just way out of whack. When I got laid off several years ago and my Cobra ran out, they wanted $1,200/month to keep the insurance going. I checked around, and most insurance was the same. One of my kids is a Type I diabetic, so I just threw all of my money into insuring her. The other two just had to stay healthy.

    Even going through the State of CT, health insurance just for my daughter was over $700/month. When she started college, they dropped her because she was attending school in South Carolina. They said they would only insure her for the 8 weeks she was home in the summer. South Carolina wouldn't insure her because she is not a state resident. So we're back to private insurance for her at top dollar.

    Fortunately, I just turned 50 so I'm a card-carrying AARP member and am now shopping for lower rates for me!

  3. johnkarnold profile image53
    johnkarnoldposted 9 years ago

    Thanks for your question.   Insurance rates reflect the costs of claims and the regulatory and taxation costs.    For example, the monthly payment on a $60,000 car would be higher than the costs on a $10,000 car.   A lot of confusion and emotion comes in because health insurance is not insurance in the pure sense of insurance.  Insurance is to help protect against an uncertainty and risk.   There is no other type of insurance that takes on certain risks and costs.

    I have been in the insurance business since 1982.  I am a managing general agent in insurance.  I am a managing general agent for AARP Medicare plans as well as many other plans and carriers.  I work domestically in the US and worldwide.   Insurance costs are high in the US because healthcare costs are far and away the highest in the world.   Our insurance rates reflect our healthcare costs.   Healthcare costs go down and insurance would go down.  Health insurance companies operate on very small margins.  Many companies leave the business because they lose money.   They are required to have large reserves to cover losses.   My job would be much, much easier if healthcare in the US cost less and so insurance cost less.

    Cobra rates are what the employer rates are.   If a family rate is $1200 for the employer, then the COBRA would be the same or up to 2% more, no higher.  This is a shock to many people as they only see their portion of the costs.

    This brings us to what causes a lot of confusion.  Most of what people see is really employee benefits, which is a form of compensation.  It may include health insurance, but should be seen in a different light.  It is part of an employee's compensation.   The employer is compensating the employee with healthcare benefits.

    This started in WWII.  Companies were not allowed to raise pay so they came up with other ways to attract employees and employer sponsored health insurance was one of those. 

    BTW, turning 50 and being a member of AARP will not lower your rates.   AARP is not an insurance company.  It is an association.    Insurance rates are regulated by the state departments of insurance and the same plan offered through AARP or not through AARP has the same rates by law.

  4. cloudrider profile image60
    cloudriderposted 9 years ago

    I provide health insurance for my family of five!... Expensive? Yes, about 600 to 800 a month that goes away without ever touching it.... This year by the way barely have needed my benefits except for normal check ups... The bad part is insurance benefits are about to go up again as my employer changes plans once more.....

    I also had to get rid of dental because the plan was so outdated that the cost which was 40.xx every two wks for me and spouse was completely crazy as the benefit did not provide the 2 most important benefits we needed which was wisdom tooth extraction and molar implant options...So have to wait till Jan to see what benefit I can get for dental.  For the meantime I look like a chipmunk and my husband chews with his good side...

  5. zaffcommunication profile image48
    zaffcommunicationposted 8 years ago

    Yes, I have health insurance policy...You can view my hub for more information about health insurance...

 
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