October 24, 2005
The Nightmare of Health Insurance Costs
I found out this morning, like most of the rest of us who work at the university, that approximately 8 months from now my health insurance premiums are going to be somewhere from 27-30% higher than they are at the moment (there's going to be an increase in January, but thankfully that first one is a mere - cough, cough, groan - 7%). Sadly, those of us here in WV aren't the only people being gouged this way. And of course many Americans are about to face energy price increases that are even worse than the record-breaking gas prices we've already seen this year. Does anyone else smell the potenial for some political white knight to come in and save the day? Or at least start to make some changes? I think the potential is there. And I dearly hope some brave politicians take up the call.
Posted by armand at October 24, 2005 02:20 PM
| Posted to Petty Rants
This really adds insult to injury, as our state health plan is extremely poor (quality and resources). Isn't it bankrupt, or near bankrupt?
Unlike you filthy rich professors, I've been self-insuring for a few years now. My rates have risen 20% per year for the past three years. When I called my insurance agent to ask about this, he said this was perfectly normal: that all insurance plans (individual/family/group/small business/whatever) are rising at about this rate (or higher).
I mean, if salaries are rising at less than 5% a year, but insurance costs are rising at 20% a year, it seems to me that at some point, insurance will cost more than you make, hmmmmm?
Sooner than you think Baltar - I think it's taken me 4 years here for my salary to increase 5%. Whereas in that time my insurance - YIKES!!! - I'm not about to do that equation. I think I might become physically ill.
It's getting to the point where I'm considering dropping it: I pay over a grand a year for catastrophic insurance (it doesn't pay a dime until I've spent over $2500, and even then only covers 50% up to $7500). I'm never going to use it unless, well, something goes catastrophically wrong. I don't want to give it up, but that's a lot of money.