Is ObamaCare saving you money?

[lorraineb]

So, I just signed up for new insurance through the affordable care act and was surprised to find that I will be paying a bit less for insurance with much, much better coverage. I will save even more since I will have a lot less to pay out of pocket during the year with the better coverage, so it's double savings for me. I was skeptical because I had been hearing bad things and how many people's rates would be going up, but it didn't happen for me. How did the experience turn out for you?

[TheKayla]

Cheaper copays and the ability to stay on my parent's insurance (which I still help pay for, but its a much cheaper option than getting my own). This way of doing this has allowed me to put a lot extra towards my loans each month, and its nice to know I'll have the option when I turn 26 to go with that if its still cheaper for me at that point -- still allowing me to get out of debt. I know its been a real life saver for me.

[disneysteve]

I haven't checked for myself. The only person I know personally who has gotten coverage through ACA is my cousin. He is retired in Florida. The new plan is $28/month more than what he was paying but it also has a lower deductible so he was happy with that.

[bjl584]

I have insurance through my employer. Our premiums are going up in 2014.

[greenskeeper]

owebamacare has increased my employer based insurance by 6% (direct from the insurance company reps mouth).

How high are the deductibles for those who have gotten owebamacare? I filled in a fake account for PA family of 4 to see what the costs are and the "affordable plan" deductable was $12k with a $680/mo premium Almost like not having insurance at all

[disneysteve]

How high are the deductibles for those who have gotten owebamacare?

I don't know how much my cousin's deductible is. I just know he said it was lower than his existing plan. I think he said $1,500 but I'm not positive. So he got better coverage for an extra $28/month.

[hamchan]

We also have coverage through an employer. Premiums are going up slightly from 280 a month to 300. But ultimately it will save us money because the copays will count toward the out of pocket max. Currently they don't which means this year alone we have paid out thousands more even after meeting the out off pocket max for my husband. When I see people bitching about a 6% increase I sort of want to vomit. They honestly don't appreciate how good they have it.

[Joan.of.the.Arch]

We do qualify for a subsidy; I'll say that upfront. For the plan we were most seriously considering we'd pay $435/mo with a $750 deductible and $6000 out of pocket max. This is one of several gold level plans in Missouri.

Because we currently pay $1245/mo, that could be a savings of $810/mo, or $9720/year. At that rate, we'd need 8.3 months to save enough to cover the entire deductible + out-of-pocket, should that be needed.

We would come out ahead using this healthcare.gov offered policy.

However, we are deciding not to sign up.

We are afraid that should there be a serious stab at dismantling the ACA, we could get stuck unable to purchase health insurance. If we leave our current group plan, we cannot come back to it. I do not think Congress in any large portion really wants to dismantle the ACA. However, right now we don't think we should take the risk, even though it will cost us, comparatively, an extra $9720 to stay on the private (ex-employer) group plan.

[kyrie]

Higher premiums

Yup, higher premiums in our plan. I dunno if there's a lower co-pay (maybe) but I do know I'm paying more in the premiums. Sigh.

[disneysteve]

It's funny how everyone assumes that because their rate has gone up, it is due to the ACA. My rates have gone up every single year my entire working life. That's just the way it works. It has nothing to do with the ACA.

[asmom]

We are covered by my husband's plan and our rates are increasing slightly just like they do every year, just like Steve said. No changes in our coverage.

[btctony]

It's funny how everyone assumes that because their rate has gone up, it is due to the ACA. My rates have gone up every single year my entire working life. That's just the way it works. It has nothing to do with the ACA.

So have mine and 2014 will be no different. I was a little irritated that my specialist copay is rising in addition to the $12/month increase in premiums. The standard office visit copay stayed the same at $30, but the specialist office visit went from $30 to $45.

[feh]

Not using the ACA - I have insurance through my employer. When I retire, it will save my wife and I large amounts of money, as we will not be old enough for Medicare.

[Gailete]

I haven't even checked yet for hubby as he has no health insurance, but from the numbers for PA that I have been seeing, we would be paying out almost double what we already are for him before we would get a penny's worth of help. I have to get it figured out, but had to do my in-laws Medicare D plan plus my own and that sort of fried my brain for that kind of research temporarily.

[DRILLINDK]

Like many others, I was dropped from my current insurance plan due to Obamacare. I'm still without insurance, but actively shopping. I'm being quoted anywhere from a 27% to 65% increase in premiums.