We just got a notice from our health insurance provider, BlueCross BlueShield of New Mexico, that our insurance premiums are increasing by 30% in April. We are self-employed so we must buy an individual plan. Individual plans are notoriously costly to begin with, and the only way we could afford health insurance at all was to purchase a high deductible policy. Now, even a high deductible policy is out of our reach. In the letter we received, they suggested some options such as a $5,150 deductible policy. How much would you pay per month for the privilege of paying $5,150 out-of-pocket every year for your health expenses? There is a word for that. Extortion.
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The Massachusetts Health Reform Act is a state law passed in 2006 that requires all adult Massachusetts residents to have health insurance if they can afford it. My private BlueCross BlueShield Premiums were cut in half when this law went into effect and still today even with rate changes is easy to take when I think of what I use to pay. I now in fact have better coverage as it was affordable to change from an HMO to a PPO. With costs going out of control Mass took a risk that seems to be paying off, more people have some sort of health insurance, this keeps the ER’s for emergency’s rather than servicing people who have basic needs or the others who waited too long because they didn’t have insurance and never saw a Doctor before they became so sick they ended up in the ER in poor health that could have been prevented.
Glad to hear there is an up-side somewhere down the road. Until then, the medical mega-corporations have our feet over the fire here in NM.