Individual health insurance sucks!
I have written before of my medical insurance mess. I just got my next quarterly bill from Assurant / Fortis and the rate has increased exactly 27.46% from a year ago!
The rate is now up to $2,193.54 quarterly* with a $5,000 deductible. And to make matters worse -- last year in an effort to reduce rates -- we added $850 in 50/50 co-pay on top of the $5,000 deductible, so the effective increase is actually over 27%.
If you plan to retire early beware of this insidious boogeyman. Read more about my Medical Insurance Mess...
* 27.46% takes into account two rate increases over the past 12 months
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I totally agree. I have not yet seen the rate increases, we carry two policies one for me and my two children (~$150/month) and one for my wife (~$165/month). That is with a $1000 deductible and no maturnity coverage, a $35 copay for me and the kids, and $25 for the wife. The rate doesn't seem as bad as the numbers you quoted. Ours is through www.qqlink.com (Continental) and Medical Mutual of Ohio. It may be because we are in the Midwest, and take less risks. I don't know. We have been on these policies since April '05 when I ventured on into my own business.
As an additional comment, I love the blog, very real, very informative. Thanks!
Pete Gordon
