Wednesday, October 27, 2010

Health Insurance

I am really mad today, but I should not be surprised. As a small business owner I am forced to find health insurance for my family on the open market. I have been using a particular company for this insurance coverage since 2005. When we first started with them, our monthly premium was about $250 per month, with an annual deductible of $3000. Each year the premium and then deductible has increased. I received a letter from the broker yesterday warning me that the new premiums would be released soon and that I should expect an increase in premium. What I was not expecting was an increase of such a large amount. Since 2005 our monthly insurance premium has increased 140% and that is with a deductible of $10,000. I thought Obama Care was going to help us reduce our insurance costs - not for me! I expected this would happen because that was the intention of the Obama Care plan, the intention is to drive insurance costs so high that we will all be forced to switch the "government" plan. Nice! Think about it like this, in 2005, my total out of pocket for medical costs between premium and deductible was $6,000, now it will be $17,200, that is an increase of 187% in just five years, where will it go from here? I now have to budget $1,433 per month for medical coverage for my family. Great Job Mr. President! I wonder what the premium will be next year, if the increases hold as expected it will probably mean another 20% increase. I think sometimes about just dropping the insurance and simply taking the risk of out of pocket expenses. I am all about businesses making a fair profit, but what is driving the expense here. We, as a family go to the doctor less because of the high deductible. We use over the counter medicine because our costs of prescriptions has increased as well. In fact, the last time someone needed an antibiotic, the bill was over $150 for a 14day treatment.

It's time to overturn this health care debacle and return to some sense of fairness. I am not sure how we do that since the plan is already in place, but it needs to be done. I will be voting for anyone who stands for overturning the Obama Care plan and I encourage each of you to the do the same. Wait until you get your new health care premium notice and it will be too late!

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