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Thread: Health Insurance Premium Increases

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    Default Health Insurance Premium Increases

    Anyone who has not taken a careful look at their 2016 health insurance premiums may want to do so soon. Rates for some of the biggest insurers are going up a lot in a number of states.

    http://www.wsj.com/articles/insurers...ses-1440628848

    I just received my paperwork for 2016 and my own premiums are going up over 16%. For those of you who do not want, or cannot afford to absorb, a significant premium increase, you might want to start shopping now for a cheaper policy. Open enrollment is currently running and will continue through January 31, 2016. However, since premium increases go effective on January 1, it would be better to change policies, if you intend to do so, in time to start new coverage at the beginning of the new year.

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    Default Re: Health Insurance Premium Increases

    I already spoke to my co. (or the one I have right now) about this.


    MANY MEN WANTED TO LAY ME DOWN, BUT FEW WANTED TO LIFT ME UP

    -Eartha Kitt

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    Default Re: Health Insurance Premium Increases

    Xxxxxx
    Last edited by lynn2009; 11-25-2015 at 10:16 PM.
    "There are different kinds of darkness. There is darkness that frightens, the darkness that soothes, the darkness that is restful. There is the darkness of lovers, and the darkness of assassins. It becomes what the bearer wishes it to be, needs it to be. It is not wholly bad or good."
    - The Court of Mist and Fury

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    Default Re: Health Insurance Premium Increases

    I'm trying to ride this upcoming year out on good health prayers instead of health insurance lol. Not making enough money to buy it so I'm cutting it out and paying the penalty. Hopefully when Obama leaves office, O'bummercare will be tossed out. *fingers crossed*

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by indiegirl View Post
    I'm trying to ride this upcoming year out on good health prayers instead of health insurance lol. Not making enough money to buy it so I'm cutting it out and paying the penalty. Hopefully when Obama leaves office, O'bummercare will be tossed out. *fingers crossed*
    They aren't going to ask for proof so you can check the little box on your forms saying you bought it when you didn't. I did this the first year when there was a fine and it didn't flag.
    "There are different kinds of darkness. There is darkness that frightens, the darkness that soothes, the darkness that is restful. There is the darkness of lovers, and the darkness of assassins. It becomes what the bearer wishes it to be, needs it to be. It is not wholly bad or good."
    - The Court of Mist and Fury

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    God/dess Selina M's Avatar
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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by lynn2009 View Post
    They aren't going to ask for proof so you can check the little box on your forms saying you bought it when you didn't. I did this the first year when there was a fine and it didn't flag.
    That's interesting. I wonder how they're enforcing it. Unless it's just one of those things they check on if you randomly get audited and they're hoping people are honest otherwise.
    "People jack off with the left hand and point with the right."

    "You can check out any time you like, but you can never leave."

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    God/dess rickdugan's Avatar
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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by lynn2009 View Post
    They aren't going to ask for proof so you can check the little box on your forms saying you bought it when you didn't. I did this the first year when there was a fine and it didn't flag.
    Quote Originally Posted by Selina M View Post
    That's interesting. I wonder how they're enforcing it. Unless it's just one of those things they check on if you randomly get audited and they're hoping people are honest otherwise.
    Actually, health insurers are required to report coverage to the IRS starting in 2016 for the 2015 coverage year. So moving forward it won't actually be too hard for the IRS to find out who is lying, since there won't be any coverage filing from an insurer to substantiate false claims of coverage.

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by indiegirl View Post
    I'm trying to ride this upcoming year out on good health prayers instead of health insurance lol. Not making enough money to buy it so I'm cutting it out and paying the penalty. Hopefully when Obama leaves office, O'bummercare will be tossed out. *fingers crossed*
    Did you look to see if you qualify for any subsidies?

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by eagle2 View Post
    Did you look to see if you qualify for any subsidies?

    You have to be in the poverty level to qualify. I don't qualify. It's so silly to force people to have health insurance. I've been paying out of pocket for when I do need a doctor.

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    God/dess rickdugan's Avatar
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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by indiegirl View Post
    You have to be in the poverty level to qualify. I don't qualify. It's so silly to force people to have health insurance. I've been paying out of pocket for when I do need a doctor.
    Actually indie, forcing someone like you, who is young and healthy with no children, to pay into the system is exactly the point of the insurance mandate. Sadly, the system doesn't work if young healthy people aren't forced to subsidize the medical care of others, including sick people and those with maternity expenses.

    But since you are under 30, you should qualify for a catastrophic policy. You'll still likely pay a couple hundred bucks per month, but it beats being pummeled for $300+ per month for a policy you will almost never use.

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by indiegirl View Post
    You have to be in the poverty level to qualify. I don't qualify. It's so silly to force people to have health insurance. I've been paying out of pocket for when I do need a doctor.
    Are you 28 years old, or younger? If you are, you can go on your parents' plan. If there aren't any plans available for less than 8 percent of your income, you're not required to buy insurance.

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    Default Re: Health Insurance Premium Increases

    I buy my own insurance (I shop for it on ehealthinsurance). My premium will be going up, so I'm simply going to switch insurance plans. I found a better plan for less than what I'm paying now. Shrugs.

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by Selina M View Post
    That's interesting. I wonder how they're enforcing it. Unless it's just one of those things they check on if you randomly get audited and they're hoping people are honest otherwise.
    Earlier in the year insurance companies sent out verification paperwork (at least mine did). I had to list all in the house covered, their SSNs, and send in copies of their SS card. Basically (I assume) the IRS is matching up SSNs to insurance reporting in a similar way they do with 1099s.

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by eagle2 View Post
    Are you 28 years old, or younger? If you are, you can go on your parents' plan. If there aren't any plans available for less than 8 percent of your income, you're not required to buy insurance.
    You mean 25 or under. A 26 year old has to have her own insurance.

    https://www.healthcare.gov/young-adu...dren-under-26/

    And that is 8% of gross income, which means potentially a much higher % of after-tax income.

    There are a lot of young people living in high cost areas like NY, CA and several other areas, who are "stuck in the middle," making too much to get any meaningful relief from Obamacare insurance requirements, but not enough to easily foot the additional burdens. By way of one example, if you live in a place like NY, are single and make 40k or even 50k per year, most of your income is likely already being eaten up by high rent, high utilities, taxes, etc.. Having to pony up another $3k+ a year to pay for a relatively useless health insurance policy is a huge deal for people in that position.

    I suspect that indie falls into that "stuck in the middle" category and she is far from alone.

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by charlie61 View Post
    I buy my own insurance (I shop for it on ehealthinsurance). My premium will be going up, so I'm simply going to switch insurance plans. I found a better plan for less than what I'm paying now. Shrugs.
    I'll be paying $229/month for gold-level insurance. I live in an area where the cost of living is fairly high.

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    Default Re: Health Insurance Premium Increases

    Charlie, if you can foot almost $3k per year, most of which you probably won't be seeing back in terms of benefits, without breaking a sweat then it is all good. But it doesn't sound like indie's in the same position. Perhaps your life circumstances (income levels, living circumstances, etc.) are different than hers? For that matter, I have no doubt that a number of adult entertainers are feeling the pinch along with her, many of whom I suspect did not have health insurance previously.

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by rickdugan View Post
    Charlie, if you can foot almost $3k per year, most of which you probably won't be seeing back in terms of benefits, without breaking a sweat then it is all good. But it doesn't sound like indie's in the same position. Perhaps your life circumstances (income levels, living circumstances, etc.) are different than hers? For that matter, I have no doubt that a number of adult entertainers are feeling the pinch along with her, many of whom I suspect did not have health insurance previously.
    I personally couldn't afford it. Only reason I got married honestly. It was going to be a bit below $400 a month for me with my pre-existing conditions and need for ongoing care. Compare to the extra $40 a week/ $160 a month by getting added to my now husband's plan... I bet I'm not the only happy, cohabitating adult that made that decision. Plus now that I'm handing a lot of household stuff, I made it my business to get to know my husband's plan. Another bit of luck I had, is that my husband's company had their rates contractually locked for 5 years I believe. We had to swallow a 22% raise that first year, but it was worth it to keep rates level when everyone else's goes up. So it's not going up this year. But I wouldn't have been as happy had the ACA work the way it was intended (supposedly more Americans covered for cheaper prices). We should save money if plan rates keep rising at the current rates. Might not be pretty when year 5 is up, but we'll see.

    There are so many factors that come into play with being able to get insurance, even stupider are subsidy requirements, that I agree it is dumb to mandate and fine it. If they are going to make it required, raise my taxes 5-10% and let everyone/everything be covered. That's a whole separate discussion though.

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by rickdugan View Post
    You mean 25 or under. A 26 year old has to have her own insurance.
    Thanks. I must have misremembered.

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by eagle2 View Post
    Are you 28 years old, or younger? If you are, you can go on your parents' plan. If there aren't any plans available for less than 8 percent of your income, you're not required to buy insurance.
    I got dropped from my insurance plan once I turned 26 .

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by Aurora14 View Post
    Earlier in the year insurance companies sent out verification paperwork (at least mine did). I had to list all in the house covered, their SSNs, and send in copies of their SS card. Basically (I assume) the IRS is matching up SSNs to insurance reporting in a similar way they do with 1099s.
    That's bizarre. I (apparently) got approved for a plan that I had applied for literally 2 years ago based on the info provided. They had never gotten back to me and I just forgot about it and paid the fee for 2014. The approval letter showed up in spring of this year and didn't tell me to do anything else so I again forgot about it. It was a fully subsidized plan since they used info from 2 years ago so no payments anyway and I figured they'd catch that I didn't qualify for it if I tried to use it. Figured I'd just pay the fee again. I never got anything this year for verification like you described.

    The other day when I went to the hospital they said "oh yeah you have XYZ insurance, it's linked to your info".... I was like uh ok, whatever, not caring since the other party has to pay for it anyway. Curious if I get any correspondence from the alleged health insurance or if I get a hospital bill.
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    Default Re: Health Insurance Premium Increases

    Ya, from what I've understood, each company has different verification processes. I'm guessing an employee plan verification would be different from an individual plan anyhow since there is more back and forth with insurance claims.

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    Default Re: Health Insurance Premium Increases

    Last year I received a pdf via email from my health care provider that stated proof of coverage for 2014. When I filed my taxes last year, I was required to upload that pdf document before I could file. I could not file my taxes without uploading that form.

    Someone in this thread said that last year they just "lied about it" so they wouldn't have to pay the fine for not having insurance, and suggested that another person who posted here and was not able to afford insurance could do the same to also avoid the fine.

    PLEASE, do not lie on your taxes. I do not know why any one of us would encourage a choice like this when there are girls here who are naive to the consequences of something like this--in the tax advice forum of all places!

    Please do not lie on your taxes. If one person at a club is audited, the IRS will potentially audit more girls at that same club. This happened at a club I worked at, one dancer was audited and then 4 others were chosen at random.

    Please do not lie on your taxes.

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    Default Re: Health Insurance Premium Increases

    I too would caution against lying on one's tax return. I'm not a tax lawyer, but I'm sure lying on one's tax return constitutes tax fraud, which at the least could result in relatively substantial penalties and interest compliments of the IRS who will be more than happy to audit the rest of your tax return for any other discrepancies as well as for other years within the statute of limitations.

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    Default Re: Health Insurance Premium Increases

    I think I might switch to an HSA plan this year..

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    Default Re: Health Insurance Premium Increases

    Quote Originally Posted by charlie61 View Post
    I think I might switch to an HSA plan this year..

    I might too. My plan is going up from 215 to 337$ a month with 2500$ deductible. I'm so lost looking at plans, but I think an HSA plan would save me more money in taxes. I believe I can deduct both the premiums and any money deposited into HSA up to like 3200$ I think for a single person.

    i feel like there's no reasonably priced option for me if I could at least get more tax deductions that would help some. I'm scared to see how high my rates will be next year. When I first got this plan it was only like $120 a month.

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