We've got great coverage for our health insurance through my DH's job. However less and less is being covered and "co-pays" and premiums are going through the roof. It's going up faster than our raises percentage wise. I know others here will weigh in but I hadn't really thought about it till I looked at my DH's paystub this month and cringed a little.
In 2015 we are paying $135/biweekly (26 payments) for family health insurance. We paid in 2014 $119/biweekly for an increase of 13.4% in one year. In 2013 we paid $101/biweekly for an increase in 2014 of 17.8%! In 2012 we paid $96/biweekly for an increase of "only" 5.2%. In 2011 we were paying $84/biweekly for our family plan for an increase of 14.3%. In 2010 when we had our first child and moved to a family plan it was $82/biweekly so the increase was only 2.4%
So in 5 years our premiums have gone up 65%. I imagine in probably the next two years we will have doubled our premium cost. What can be said and done? I don't have a clue. I guess we just suck it up and say I hope we get a raise, which has happened but it's been 2% merit increases. How do we keep up with inflation when some of our fixed costs are spiraling out of control?
I'm not complaining. I'm actually happy we have health insurance and it's a very generous policy. But I worry how much more expensive it's going to get and whether we can ever afford to leave a "group" plan and buy our own.
Have you been tracking your health insurance premiums? Dare I ask what others pay? I am going to guess a lot.
Health Insurance Premiums
February 3rd, 2015 at 01:01 pm
February 3rd, 2015 at 02:02 pm 1422972121
February 3rd, 2015 at 05:06 pm 1422983176
I think you are wise to try to reckon insurance costs before you retire early.
February 3rd, 2015 at 06:20 pm 1422987613
No raise since 2009 and I feel your pain regarding fixed costs increasing at a ridiculous rate. We are being taxed out of NY between property and school taxes, paying at least $0.70/ gal higher gas, well everything it seems really and we are 90 mins North of NYC!
We've just about have had it.
February 3rd, 2015 at 06:54 pm 1422989655
February 3rd, 2015 at 09:27 pm 1422998844
2015: $784.49 per month - $569 union monthly = 215.49 per month 25% increase
2014: $718.70 per month - $557 union monthly = 161.70 per month 25% decrease
2013: $745.59 per month - $544 union monthly = 201.59 per month 8% increase
2012: $685.82 per month - $501 union monthly = 184.82 per month 1.5% increase
2011: $663.82 per month - $482 union monthly = 181.82 per month
February 3rd, 2015 at 10:14 pm 1423001686
February 4th, 2015 at 02:49 am 1423018196
At the mission school I paid $0 for my insurance, and my prescription Synthroid cost $10 less ... I'm not complaining - more than happy to pay $42/month for a pretty good plan.