The amount on my paycheck is lower as of this month. My employer had told us about it in advance so there wasn’t any drama but the culprit is health insurance premiums.
The older you get the more important health insurance becomes. Partly because invincibility is a state of mind for the young and partly because ongoing health issues become a reality for many.
Like many of you our premiums have gone up just about every year. My employer usually absorbs the increase for employees but for those covering family members (like Mr. Boomer) it increases.family.
Last year we had the first major coverage change resulting in office visits copay increasing from $10 to $30 (with the HMO option). Still that was okay because most people don’t actually go to the doctor every month or more.
Health Insurance Options
This year an alternative HMO option was considered that would result in no increase for employees but would require more out of pocket for hospitalization and outpatient services. To help with the increased out of pocket a supplemental policy would be offered.
During a meeting to review the two options it became clear that the majority wanted to keep the current plan even if it meant paying more. My employer decided based on the feedback to do so and that’s why my paycheck got smaller. But they don’t know what’s going to happen next year.
Will we end up having a plan with less benefits? How will health insurance reform impact us? At what point to people say that’s too much to pay?
Has your health insurance changed this year and was it by choice?
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