ronsidney Posted October 19, 2013 Share Posted October 19, 2013 Hey guys, what is best place to research this? i have a few questions and cant seem to find answer.. here it goes.. I have BCBS of tn through Farm bureau and have had for about 12 years.. My rate went up about 300 a month about a year ago because of the obamacare coming,(at least that is what my agent said, he said because they are gonna lock rates when obamacare goes into effect that everybody was gonna get rate increase well before that happened) My policy is good and it qualifies etc and its gonna be good for long time etc.. but here is my question.. My insurance company works like so.. I'm younger and healthy, i don't have problems to put strain on company ..YET!! but my rate is high and pays for the old folks that need it now and have had this same insurance for 20-30 years etc, they are finally getting their money back by having heart attacks, cancer etc(nothing i look forward too but just fact of life and getting old) now for all the years they paid without problems ,(like im doing now)...I know one day if i keep paying and keep plan that i will get sick, as we can't live forever and i will one day need expensive healthcare. so if i keep what i got and no new subscribers come on board because they would rather choose obamacare as the new subscribers now signing up have that option, will my company be solvent when i finally get old and need it?? Im looking 20 years or so down road here..This is what has me worried, i would hate to be paying this high golpher price for the foreseeable future for nothing but to keep my insurance company going as long as possible as i'm at that age where my old timers care would run out if no younger subscribers keep signing up.. say for instance it was 100 people.. 20 are in their 20's ,20 are in their 30's, 20 are in their 40's, 20 are in their 50's, 10 in 60's,10 in 70's..thins out as it gets older as people are dying..the 20 oldest are using up 50-60% of premiums with their high bills like heart attacks etc.. now as those figures move forward in time and no new 20's and 30's and 40's are there when i reach the 60's and 70's then my insurance company will be bankrupt and I paid years for nothing!! I ask my insurance company this question and of course they just say how many billions they have etc. as of course if i bailed they would lose one of the young healthy guys paying for all the old timers bills and of course they wouldn't want that! not debating on how this all sucks and now the young whipper snappers out there have to pay into the pot and they are being forced to do etc. because of this socialized medicine etc. ....Im asking biz question on how a private company like BCBS or whatever will survive if there is a new public funded insurance out there.I may be missing something so that is what im looking for . Of course it doesnt matter when we are all in those Chinese concentration camps anyway in 20 years from now ..but thats another discussion there. ron Link to comment Share on other sites More sharing options...
caserri Posted October 19, 2013 Share Posted October 19, 2013 so if i keep what i got and no new subscribers come on board because they would rather choose obamacare as the new subscribers now signing up have that option.... Im asking biz question on how a private company like BCBS or whatever will survive if there is a new public funded insurance out there. Okay, I guess I'll take a stab here since no one else is. I don't recall ever hearing that the government was going into the health insurance business so I'm not sure how anyone can choose "Obamacare" over a private company such as BCBS. As far as I know, the ACA is an action plan designed to ensure everyone has health insurance and can afford it based on their income. I'm not a Dem or Rep but we've had this in Massachusetts for several years now and quite frankly its nothing to be afraid of. Link to comment Share on other sites More sharing options...
mission vending Posted October 20, 2013 Share Posted October 20, 2013 There is nothing desirable or affordable about obamacare. My policy renewal gave me 2 options. Renew my existing nonobamacare compliant policy prior to 12/31 and keep it through 12/31/2014 at a slight increase to $274 a month or get a obamacare compliant policy with the same deductible and copays for $649 a month. Link to comment Share on other sites More sharing options...
caserri Posted October 20, 2013 Share Posted October 20, 2013 I'll admit I know very little about the aca but I don't anticipate any adverse affects. Tomorrow will be the same as today which was the same as yesterday. Link to comment Share on other sites More sharing options...
caserri Posted October 20, 2013 Share Posted October 20, 2013 That's the greatest thing about living in Massachusetts. You get so used to being bent over a barrel that when someone new comes along and says "bend over", it's nothing new. Hell, we don't even get half of the crap we vote for on ballot questions. Link to comment Share on other sites More sharing options...
mission vending Posted October 20, 2013 Share Posted October 20, 2013 I'll admit I know very little about the aca but I don't anticipate any adverse affects. Tomorrow will be the same as today which was the same as yesterday. Well for me at least seeing a premium difference of $375 a month is a adverse effect. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.