Originally Posted by
Scott P
Our insurance went down (slightly).
Just a wild guess, but I wonder how much of it has to do with age of employees?
I'm guessing one reason ours went down is because we have an older than average workforce. Under Obamacare, insurance companies have to charge the same rate, regardless of age (?). If true, if you have a younger than average workforce, your premium would rise. Maybe that's why our rates dropped?
One thing for sure is that I'm glad we have good insurance now. I still owe $40K+ for medical bills on the previous insurance though.
Anyway, medical insurance is a mess in this country. I don't think either political party has proposed a good solution.
I used to think that the bulk of the blame lay on the medical companies and pharmaceutical companies. After working in the industry, some things were eye opening though.
For example, pharmaceutical companies often make huge profits and have seemingly extremely high markups on their medications. They have to though. One class action lawsuit from a side effect can easily wipe out an entire pharmaceutical company, even if it was large and has been established for years. They have to make big profits and have high markups as a cushion to guard against lawsuits. This is just one example of why medical cost are so high in this country.