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Home » Health, Health Insurance

Reader 2014 Health Insurance Premium Price Change Roll Call

Last updated by on 12 Comments

We’ve been discussing HSA’s, HDHP’s, and the new insurance exchanges a lot lately, as 2014 marks the first year of the new public exchanges under the Affordable Care Act.

Love it, or hate it – the new exchanges and the plans available within will have an impact on premium prices, quality of coverage, and out of pocket costs.

But it doesn’t seem like there is a general consensus yet on exactly what kind of impact will be had. It’s long been projected that those who are young and healthy will see higher premiums. That seems likely. At the same time, tens of millions of previously uninsured individuals may be able to get affordable subsidized insurance or any insurance (when previously denied due to pre-existing conditions) for the first time… if the bumbling idiots who set up the website structure can get it fixed.

Other than that, it’s been strictly conjecture and prognostication.

But open enrollment is now here, after a delay, and I would expect that all kinds of interesting health insurance premium pricing data will be rolling in – some good, some bad.

2014 health insurance pricesFor starters, I will personally see an increase in premiums for my employer sponsored high deductible plan. Premiums for me will be up $28.16 per month or $338 annually. This is an increase of  over the $936 I was presently paying annually (for my wife and myself). My employer specifically stated that this increase was mostly due to having not increased premiums over the last few years at all (pent-up inflation). If you just look at the increase in percentage terms (27%) – it seems quite dramatic. However, given that I am only paying about $100 per month for two adults, I’m feeling pretty good. Nothing was taken away from me in my plan.

There’s also the matter of what I’ve gained from ACA changes to mandatory coverages from insurers. Two preventative visits annually are covered under my plan. Additionally, my wife’s birth control prescription is now free as a result of the ACA (in addition to 21 other now free female preventative services), and that will save us approximately $254 per year, maybe more, in some years.

We also get free flu shots and 15 basic preventative services covered for everyone now. And while it hasn’t come in to play yet (thankfully), there is the comfort gained from knowing that if my wife or I do come across a catastrophic or high cost ailment, there will no longer be any lifetime coverage caps, that if exceeded, would have the potential to bankrupt us.

Given that I was able to make money on health insurance each of the last two years (in combination with employer HSA contributions) and if things go well again in 2014 – a third straight year, I’m actually feeling very good. I will once again make the maximum HSA contribution to stockpile savings for future medical costs, while I can.

Health Insurance Premium Price Change Discussion:

I’ve shared my story, but I want to hear from all of you as I think it would provide an interesting gauge on the immediate impact of the ACA on health insurance premiums.

I would expect that those who are young and healthy (much of my primary reading audience demographic), and particularly those enrolled in HDHP’s, will see premium increases. I also expect that you’ll also see rises in the quality of what is covered. But beyond that, this could prove to be very informative.

If you’ve run the numbers, please provide as much quantitative and qualitative feedback as you can provide:

  1. What was your premium price in 2013 and what will it be in 2014?
  2. Are you eligible through a subsidy on a public exchange? How much?
  3. Where did you enroll for insurance for both years (employer, public exchange, private exchange, individually bought) and who is the insurer?
  4. What are the ages/health of those covered?
  5. What state do you live in?
  6. If you have any unique scenarios (i.e. could not get covered before due to cost or pre-existing condition, and you will be covered next year), please share!

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12 Comments »
  • Sarah says:

    I’m in New York. My husband lost his job in October so we’re going from a $300/month HMO plan (no deductible) to a $250/month catastrophic HMO plan on the exchange ($12,700 deductible).

    On the one hand, we’re fortunate to have found a plan with lower premiums… but the out-of-pocket expenses are going to be absurd. Especially since none of the exchange plans are HSA-eligible.

    As for the federal subsidies, we are eligible as long as my husband is unemployed (hopefully not long) but they only apply to the “metal” plans which would have started at about $400/month for us.

  • Katie says:

    I’m in northeast Ohio and am covered under my employer health plan with an HDHP and HSA. The HDHP is incredibly comprehensive and my deductible is $2,000. I’m lucky to not have any health issues that would have me go to the doctor for anything other than preventitive care, so I am able to put money into my HSA. My rates have gone up, but not nearly as much as I thought they would – 6.8% for medical (UnitedHealthcare), vision, and dental (Delta Dental) combined. ($96.18 -> $102.72 monthly) I haven’t looked at the exchanges since my plan has worked for me and based on the examples I have seen, it’s still cheaper to go through the employer than to apply for the subsidies.

  • Austin F. says:

    1. $31.54/month in 2013 to $31.52/month in 2014. Company contribution for HSA has gone from $600/yr to $1000/yr.
    2. No idea.
    3. Employer sponsored HDHP with HSA; Aetna.
    4. 28, M, healthy.
    5. CO
    6. No change in benefits.

  • Frank says:

    1. $84/mo in 2013 with a $2750 deductible and HSA, purchased individually through Aetna. If I go on the public exchange in 2014, the cheapest plan I could get would be $166/mo with a $6350 deductible without an HSA.
    2. No.
    3. See 1.
    4. 28 y/o male, healthy
    5. CT
    6. No.

  • Tim says:

    1. My Aetna employee sponsored HDHP premium for 2013 was $103.76/Month. In 2014 the same plan will be $128.44/Month. (increase of approximately 24%)
    2. No
    3. Aetna HDHP purchased through employer.
    4. Single 29 y/o Male, Healthy
    5. MN
    6. None

  • John says:

    I live in Wisconsin and was not able to be insured due to pre-existing conditions. I am a 59 year old male. Wisconsin offered a high risk program for people like me that was cost me $477.00 per month. My roommate Kathy is in the same predicament and being a 60 year old female was paying $524.00 per month. Neither of our employers offered insurance so we had to purchase our own plan. We each make just over $50,000 per year in salary and are not eligible for federal subsidies. The Wisconsin high risk program has been cancelled and we have been told to sign up for Obamacare. Based on the web-site pricing I have found for us on http://www.healthcare.gov I will be paying $625.00 per month and Kathy will be paying over $800.00 a month. The coverage is not as good as what Wisconsin was offering at the lower pricing so this is not Affordable Care for us.

  • Natalie H says:

    I’m enrolled in my husband’s employer’s grandfathered group plan. Since if they increase the price by more than 5% they would have to provide the mandated services to women, they are doing everything in their power to not change the plan. That means that I pay the same but many at their workplace and many employee’s families are no longer covered. I also have to pay more than $1000 for the birth control implant and associated visits instead of it being covered 100%. Not Happy!

    • Natalie H says:

      1. $16.87 per week – same in 2014 for family HSA with $200 employer contribution to HSA.
      2. I am eligible for a subsidy if I did not have coverage through my husband’s employer.
      3. Employer
      4. 35, 32, 3.
      5. NV
      6. Grandfathered HSA plan does not cover women’s preventive care, and won’t for 2014 either.

  • Ron Ablang says:

    I’m nearly maxing out my contributions for the Kaiser HDHP + HSA so I’m not aware of any increases to my costs.

  • Alex says:

    1. I didn’t pay any premiums (unless you count a student health fee)
    2. I am eligibile for Medi-Cal, due to not having any taxable income (I use the Post-9/11 G.I. Bill to live off of while in school). I graduate in May, and assuming I get a job at $43k/yr (big assumption, given the job market in my field), I would not be eligible for premium assistance, according to the Covered California website.
    3. I am enrolled in V.A. Healthcare, which meets the ACA requirements, and I will have access to V.A. for life, though copays will vary based on my income.
    4. 28 year old male (decent enough health)
    5. California
    6. Luckily, V.A. Healthcare will cover my heathcare needs (well, most of them). I’m a veteran and in school, but since I got back in school when I was 26 (I got out of the military at 25, 6 months before my 26th birthday), I wouldn’t be eligible to stay on my parrents’ plan anyway. Especially since I was on TRICARE while in the military, which severed me from their Blue Shield plan.

    While V.A. Healthcare meets ACA requirements for coverage, I have the option of buying additional insurance, though I’m not quite sure how the two work together yet.

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