Layout:
Home > Health Insurance Premium Increase Letter

Health Insurance Premium Increase Letter

January 11th, 2009 at 12:21 am

Today I got a notice in the mail that the health insurance I purchase for my children will increase beginning 03/01/09. Currently, I am paying $215.01 and the new rate will be $282.36...an increase of 31.32%. This is really an excellent health care plan. I definitely need this one, or one equally as good coverage-wise for DD because she has several medical issues. DS so far doesn't frequent a medical office very often *fingers crossed*, and hopefully it stays that way.

I don't know for sure what to do. I am covered 100% by my employer. I looked into adding them on that plan, but it is about the same rate with higher copays for each category. So that isn't really a better, more cost-effective option.

I looked into the state CHIP health coverage in which all children are covered with no household income limits. I don't qualify for any reduced rates there and the full-cost premium PER child is $163/month. So that one is more expensive also, but does have a SLIGHT reduction of copay amounts.

I'm thinking about shopping around and maybe purchase coverage for DS with a small deductible, say $1200 w/ 100% copay (after the deductible is paid). I'm just not sure yet.

Anyway, it figures I'm saving roughly $70/month by refinancing my mortgage and was planning to allocate that to the principal each month on the car loan (which I most definitely still plan on doing), and now the health insurance premiums increase ~$70/month!

It sure would be thoughtful of my children's father to come forward and pay at least SOMETHING each month towards their care and to support them financially, but I don't know when that will ever happen. I'm just really pessimistic about him not taking any responsibility for his children!! (sorry to rant)

So I have some homework to do here in the next month or so to decide what I should do about their health insurance.

Have a great evening everyone!!

6 Responses to “Health Insurance Premium Increase Letter”

  1. creditcardfree Says:
    1231634044

    Hate when that happens! It's nice that the mortgage savings can offset the increase. Good luck shopping around, too.

  2. Amber Says:
    1231637047

    I was thinking shopping around for your son, but is the $282.36 for both kids?

  3. Blue Eyes Says:
    1231637673

    Amber--$282.36 is for both kids.

  4. Amber Says:
    1231641345

    Oh that is great...I think I would keep it since you said it was a good plan, but it doesn't hurt to look around

  5. Koppur Says:
    1231691874

    Ugh, they are such greedy people. (The insurance companies, not your kids!! Smile )

  6. how to get fair skin fast with home remedies Says:
    1359756653

    [ Trackback From: how to get fair skin fast with home remedies - how to get fair skin fast with home remedies ]

    ...

    Health Insurance Premium Increase Letter: Purple Flower's Finance Blog

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]