Health Insurance Costs

Health Insurance Costs

Health insurance costs in the U.S. are totally whack.

Today was a day that I had been expecting but not relishing – the day our health care insurance renewal notice arrived. And the requisite cost increase – again, expected but not looked forward to.

Our monthly major medical costs for a family of 4, with a $3,000 deductible, will be over $1,000 a month starting in May.

We go to the doctor maybe once or twice every six months. We haven’t been in the hospital in the past dozen years. We don’t have a chronic illness. In fact, our company experience has been quite exemplary over the last 12 years.

And yet, every year for the past ten years our rates have increased 12% to 22%. This next year, our rates will increase by almost $200 a month.

That’s a cost that is not easily passed along to customers, and it comes right off the bottom line.

Net-Net, it is not surprising at all that people “go naked” (without insurance).

We will be doing some real soul searching to put together an alternative approach to our major medical coverages in the next six weeks, because the existing situation has become entirely untenable.

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