5% of my annual income will go to paying my insurance deductible alone.

[backtoblue]

I am currently employed full-time and my employer pays for half of my monthly rates. I made around 20 k last year and my insurance deductible is 1 k. That means that before my insurance company will pay for lab, hospital, surgical, or diagnostic tests, I will have to first come up with 5% of my annual wage. Even after I pay the 1k, I will still have to come up with 20 % and additional co-pays.

I don't have any major health conditions, but I have a couple of herniated discs in my back that a MRI detected. I also had an EEG and some nerve tests.

Monthly insurance rate: 60.00 (payroll deducted)
Monthly payments to MRI: 50.00 (24 months)
Monthly payments to Dr.: 50.00 (12 months)
Monthly medication: 100.00 (even with prescription plan of 10.00, 20.00 & 50.00)

210.00 per month = 2520.00 annually. (about 12 % of annual wage)

12% of my income this year will go to pay for healthcare and that's not even including random dr. visits or my yearly pap smear. I can see first hand how easily it could be to fall into financial disaster over medical bills.

This is my american dream folks - to literally almost break my back working my entire life and pay such a large sum of my earnings to do so. I might as well quit work and draw disability because this shit seems so unfair.

[napi21]

1. Isn't there a max out of pocket expense? We're on Medicare now,

but last year when my hubby was still working his ins had a max OPE of $2,500 a year. That did not affect the cost of drugs but those other deductibles can add up quick!

[backtoblue]

4. Unfortunately there isn't.

We have the 1,000 deductible, 80/20 pay, and co-pays (which won't go toward the deductible). I am only 29 years old and am raising a five year old by myself. I want to put him through college and for him to not have to work as hard as I have. It's just so frustrating..

[debbierlus]

2. I know. The myth of affordable health care

Interesting how they never discuss the numbers.

[Nikki Stone1]

3. + 1

ANd I have a feeling they are setting up this new system to move Medicare to it as well.

[dana_b]

11. me too n/t

[SammyWinstonJack]

16. You know THEY are. Right along with privatizing Social Security.

:grr:

[backtoblue]

5. The funny thing is that I failed algebra and can explain it.

Insurance is a scam. People making money off of other people's illness and suffering. Disgusting

[juno jones]

7. YES!

I have been asking about hard numbers for months. Where the cutoffs are and how much means testing is going to be involved...

I have no insurance, because if I did, I couldn't afford my health care... or perhaps even food and a roof over my working class head.

[placton]

6. just smile and be happy?

Obama and the Dems in Congress are on your side

[backtoblue]

8. Sure.

That's easy to do while being sodomized while waiting. :hi:

[SammyWinstonJack]

17. LOL!

Obama and the Dems in Congress are on your side. :silly:

[Fire_Medic_Dave]

9. Is that gross or net income?

If it's net what deductions are taken out.

[backtoblue]

10. Sadly, it's gross income

[Fire_Medic_Dave]

12. That's tough. Hope things improve.

[backtoblue]

13. Thank you. Me, too.

:pals:

[slipslidingaway]

14. Sadly, it may not improve or even decline ....

Links here from a few different sources...
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=6916987&mesg_id=6916987

Health Care Reform Bills - Does Actuarial Value Trump Medical Loss Ratio?

"...So, let's start with the basics. The actuarial value of a health plan is the share of health care costs that a plan would cover if an average population were enrolled in it. For example, a plan with an actuarial value of 70%, would cover 70% of the health care expenses of an average population, and 30% would be picked up by individuals. If you are enrolled in a health plan with an actuarial value of 70%, it does not mean that you, personally, only will have to pay for 30% of your health care costs. If you happen to use lots of medical care, you could end up having to pick up a much higher share of your costs, and if you are lucky, you could end up paying for a much smaller share..."


"...Basic coverage under the proposals before Congress would provide an actuarial value of 65% or 70%. That means that the patients would be responsible for the remaining 30% or 35% of health care costs, although the proposals would limit the total amount for which the patients are responsible under the plans. Patients also would be responsible for out-of-network services and for services and products not covered by their plans.

If there is a cap on out-of-pocket spending, then why should the precise actuarial value make difference? Simply, the lower the actuarial value, the greater the likelihood that the patient will have to spend the full amount up to the cap. Thus more individuals will be negatively impacted. Also, the amount of the cap makes a very big difference. The proposed caps on out-of-pocket spending, when added to the patient’s share of the premium, create a financial hardship for most low and middle income individuals and families..."

[spinbaby]

15. I pay about 6% of my income (before taxes) on health insurance

That's before co-pays. Fortunately, my co-pays are reasonable and my husband has a decent job.

The thing is, my fairly decent health insurance costs my company far more than what I'm paying. Including what my company kicks in, the actual cost of health insurance for my husband and me is around 30% of my salary.

[elias7]

18. I pay 17k/yr with a 5k deductible

for a family of four, that's 22k/yr. Problem is, without a public option, insurance companies (Anthem) has no incentive to lower my rate.