BCBS health insurance renewals

The situation in 2012:

http://www.heraldsun.com/business/x670460151/Blue-Cross-of-NC-s-net-income-down-exec-pay-up

DURHAM —
Blue Cross and Blue Shield of North Carolina’s net income was down about 67 percent last year compared with 2011 as the health insurer said it spent more on investments in technology and infrastructure and saw increased medical claims.

The insurer, the state’s largest, also reported that the total compensation of nine of its top executives were up in the year. Its chief executive officer saw a 37 percent increase in the total that includes base salary, a bonus and other compensation.

The insurer reported in a news release Friday that it saw a consolidated net income in 2012 of $57.7 million. That’s down from the $177.1 million the insurer reported in 2011.

Revenues totaled $5.7 billion, up about 4 percent from revenues in the prior year, while claims and medical expenses were up 8.4 percent to $4.5 billion.

For each premium dollar, the insurer said in the release that it spent 87 cents on medical care, up from 85 cents in 2011.

It said most of the remainder of the premium dollar was spent on customer service and information technology.

The insurer said it made investments in technology and infrastructure necessary to prepare for health care reform.

“2012 was a year of focus on the future and the full implementation of health reform,” Brad Wilson, president and CEO of Blue Cross and Blue Shield of North Carolina, said in the release. “We are making investments today to ensure we can meet North Carolinians’ health care needs tomorrow.”

In addition, the company reported that nine different executives received increased total compensation in the year.

Wilson saw a 37 percent increase in compensation for a total of almost $2.48 million. That is made up of a salary of $854,692, a bonus of almost $1.6 million and other compensation of $25,291.

 

So like I said.....they are paying more and more.


Thanks for the link.

 

Cool. Got it. I was getting worried seeing everyone give their outlandish increases and hearing all of this about NC getting hit hard especially women near their 40's.

So, I have wife and daughter on Blue Advantage plan and it went up $31 to $420. It is a grandfathered plan with a $3,500 deductible. I have been pleased with the plan and have had it for about 4 years.

This increase is certainly not good news, but it is far from complete and total devastation. It is in line with past increases.

So where is the disconnect? I haven't seen a single person report such a modest increase like mine. Everyone else has gone up by hundreds of dollars. Were they non-compliant plans? Did folks know they were non-compliant and had a chance to change before they were forced to? What gives?

BTW, this is what this thread was intended for: an exchange/comparison so folks can better understand how their changes stack up against others'.

 

well thank you for the rules and guidelines.. will certainly keep that in mind.

 

But FAR from going broke doing it .... a 2% increase in payments while increasing our plan by 6.8% the following year.

 

The company plan we have, which is non-compliant, but can be renewed went up 6.8% total for all employees. A compliant plan would be 6.9% higher than the current plan. This is the first single digit increase in the plan I can remember.

 

Ok just logged in, thanks bos.., DS policy, which was grandfathered in only went up $9.00 188 to 196

Not as bad as some others that I have seen.

 

Mine went up 30% and we're healthy as horses.

 

Finally, the rich pay more.

Sherry

 

It would seem everyone is paying more, except those who have never paid before.

 

I don't think your health has anything to do with the renewals for ACA purposes, but...

...let's look at your cost for a second. You stated:

If your premium went up $300 a month and that represents a 30% increase, then you would have been paying $1,000 a month and will be paying $1,300 a month.

If this for an entire family? Was your plan compliant to begin with? Why such an increase?

I am seriously trying to see the rhyme and reason between smaller increases and the crazy ones.

 

Yes that is for a family and I get my insurance from BCBS outside of my employer.

 

Imagine this from a socialist.

 

Was it a compliant plan? Grandfathered? Or did they convert it to one for you?

Not to get too personal, but how many members in your family? Don't have to answer that, obviously.

I have no doubt BCBS has some sort of formula for all of this and the skeptic in me also feels that that formula is likely bogus and hosed beyond belief no matter what BCBS would tell you about how well they're run.

 

Shoot, am I off Ignore now? haha

Sherry

 

In all seriousness I ask this, are you actually paying now $1,300.00 per month for a family of four for health insurance from BCBS?

Sherry

 

Haven't been on the exchange yet (tried but it's a POS)

Family of 4.

Not grandfathered.

My plan was called plan B but will be silver 3500 next year. I probably can go down a plan but I haven't investigated it yet.

 

No. Not now. Harvey's math was pretty close though.

 

My employer is seriously considering dropping health insurance (I'm in Sr Mgt) so everyone can get a subsidy via the exchange.

Only problem is BCBS can't make up their mind on what plan they are going to offer my employer. Time is running out.

 

Called BCBS today as we still had not received our premium notice for next year, but received a pamphlet that we would be grandfathered. At 2:00, we found out that our high-deductible plan would go up $90 per month for a family of three - We have had the plan for three years, and have only reached the deductible of $5600.00 one year. Went on healthcare.gov to begin to investigate our options and three hours and twenty minutes later, I navigated the website only to be notified that "they" could not verify my identity, nor could the credit service the site refers me to, as they use the same websites, and still do not know what options we have. Frustrated!!! I had to scan my Driver's License, send the file, and wait for an email to verify my existence. I'm pretty sure I'm here!!!!