LOCAL 12 - Search Results
Sorting Through the Clutter of Tri-State Health Premiums
CINCINNATI (Paula Toti) -- We looked into what people in the tri-state are experiencing when it comes to their heath care premiums and tried to sort through the clutter of what's happening with the Affordable Care Act.
Experts tell us people working at large companies are seeing little to no change.
For companies with fewer than 100 employees they are finding an average increase of 10 - 15 percent. Businesses with two to three employees are the ones most likely to see their coverage dropped. That's usually because the plans no longer meet the minimum requirements.
Then there are some extremes. Some people are seeing a benefit with AFC and some increases as high as fifty percent. We met examples of the two extremes.
Dan O'Keeffe and Stephanie Cooper are both self employed. As a sculptor Cooper has been getting a high deductible plan over the years to keep premiums low. She went to the government website to find coverage in the exchange and is so far happy.
She said, "I think I should get a lower deductible for sure, instead of ten thousand dollars, less than five thousand deductible".
But the owner of O'Keeffe Communications says the high deductible plan he has been buying for himself is going up almost 50 percent. He said the letter he got caught his attention but also said he would be better off staying in that plan, rather than going into the exchange.
What's probably happened for O'Keeffe is that now his plan like all others has to cover certain basics like maternity coverage, mental health, pediatric dental and other things he might not have had before. More likely his increase is due to new plan ratios. The oldest person on the plan can only be charged three times as much as the youngest. In the past it was six times. He will no longer get a price break for being healthy or for being a man.
Cooper says it's now more fair. O'Keeffe wonders what it will mean to his growing business. He needs to hire and wonders if future employees will be content to go into the exchange or if he'll have to offer coverage.
Experts say the take away for consumers is to shop around. If you work for a smaller company check the exchange even if you are still being offered coverage at work. Check not only the price of the plan but the co-pays and deductibles.
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