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12% Increase and How Much is Too Much September 17, 2009

Posted by Admin in Money.
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Well, I anticipated correctly. Today my company handed out the preliminary notice about open enrollment. This year’s health insurance increase will be 12%. I pay 25% of the monthly cost and the company pays the other 75%. I haven’t seen a 12% raise for a while, have you?

Also, I was at a meeting today where a speaker reminded us that some of our fellow health insurance users might be using too much health care because “well, I already paid for it”. I understand the process that might lead someone to have procedures done that might be available but not always necessary. Would I have not had my colonoscopy if I had to pay a greater share of it? Is that procedure cheaper than having cancer? Probably. Did I research that? Well, no. But I do have previous experience…Did I shop around for the cheapest colonoscopy? Well no. It was hard to even get an estimate and the insurance company wouldn’t even give me the amount that they would reimburse the clinic because they worry that the clinic will then charge that amount. Does my colonoscopy affect the double digit premium increase in the aggregate?

Here’s one reason that I went and did this right away, unlike some people I know who have postponed that procedure to age 52 or 53. I think I wanted to know if I had any risk factors for another type of cancer. I got to hear the physician tell me that no biopsy was needed.  I’ve not heard that a lot. No return procedure for ten years also great news. I agree with President Obama that colonoscopies, like mammograms, should be considered part of preventive care. But I couldn’t afford to wait for the  bill to pass! (No pun intended.)

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