Health Insurance

[Pat Stubbs 10]

Has anyone arranged health insurance for their parent? I am looking at prices and they’re horrendous. I would welcome any advice.

[Unlockable 7,315]

Insurance is going to be high. There are slightly lower cost options. They just have to be hunted down. They can try looking in the ACA marketplace.

 

Are your parents in the US yet? What state will they be living in? Some states offer more options than others.

 

It is good that you are preparing. It is one of the most overlooked things when people bring over parents. We have seen so many threads where people get sticker shock from insurance quotes.

[Pat Stubbs 10]

Actually I am the parent. I am still in the UK and my case is at the NVC. My son lives in Florida so I’ve been looking at Florida Blue. There are a couple of others but they come in around the same price. My income will be just out of the parameters for Obamacare so I am totally self funding. The prices start at around $850 a month plus deductibles of between $6500 -$7500  I am 67. Also the premiums continue to rise with age. 

[CEE53147 559]

37 minutes ago, Pat Stubbs said:

Actually I am the parent. I am still in the UK and my case is at the NVC. My son lives in Florida so I’ve been looking at Florida Blue. There are a couple of others but they come in around the same price. My income will be just out of the parameters for Obamacare so I am totally self funding. The prices start at around $850 a month plus deductibles of between $6500 -$7500  I am 67. Also the premiums continue to rise with age. 

Actually, at your age these are cheap compared to my state. Premiums for a 40 year-old are higher than what you stated.

 

You have the additional problem of finding a physician taking new patients - especially the elderly.  After you have been here 5 years, you can buy into Medicare without a subsidy.  It will also be expensive and limit you physician choices even further.

[Unlockable 7,315]

1 hour ago, Pat Stubbs said:

Actually I am the parent. I am still in the UK and my case is at the NVC. My son lives in Florida so I’ve been looking at Florida Blue. There are a couple of others but they come in around the same price. My income will be just out of the parameters for Obamacare so I am totally self funding. The prices start at around $850 a month plus deductibles of between $6500 -$7500  I am 67. Also the premiums continue to rise with age. 

Apologies for the confusion.

 

Those prices sound about right. We have seen quotes anywhere from $700 - $1500. I think I remember a thread where someone found an insurer that quoted them at around $400 a month for parents. If I can find it I will post the link.

 

Are you working? I know a few people who are at your age that have small or part time jobs that offer health benefits to them. They don't need the money, so they work to keep busy and get the health benefits.

[Pat Stubbs 10]

I retired last September. The cost of health care has always worried me but since last year when I got an online quote the price has gone up by about $200 a month. 

[Wuozopo 4,293]

The thing I have experienced, in addition to the price going up, is that plan providers drop your plan every year so you have to go through the same turmoil every year. And as insurers lose money, they move out of serving your area or state. So eventually no BlueCross, Humana, Aetna, or the other large companies. All that is left is some no-name company that the best doctors and hospitals won't accept. Affordable Care my a r s e. My entire semi-retirement income goes to pay premiums and I have not yet collected a penny from insurance because of the high deductible. The only advantage might be negotiated rates with insurance companies where a doctor charges $250 for an office visit, but because he has contracted with your insurance company to charge $175, you get a $75 break in what you have to pay out of your pocket until you meet the deductible.

[Boiler 45,638]

Usually the best deals are to be had if you pay cash and make clear that you are not paying the normal rate or the Insurance rate.

 

Affordable Care Plans tend to have low reimbursement rates to Medical Providers so yes there can be an issue finding somebody who take them. Bit better with Medicare.

 

 

[yuna628 9,680]

Hi OP: as you can see there's not a lot of options out there, especially if you will not be obtaining insurance via an employer. Those premiums you quoted sound about right. I was even paying about that much at some point. Some places are even higher. You are going to find that there isn't much available, and it's all very expensive. I don't anticipate any stabilizing factors or cheaper prices for insurance in the future.