Wednesday, February 13, 2008
My frustration with my health insurance company continues to increase on a monthly basis. The cost of my prescriptions have gone from $72 a month in December, to $85 in January and now to $92 in February. In January we had to switch to a new "group" with our same insurance company, because, apparently, our business was no longer large enough to sustain our own group. Because of that change, our benefits also changed, reducing the amount our insurance company paid for prescriptions and other medical costs. Basically, what the pharmacist told me, is that the insurance company doesn't pay ANYTHING on my prescriptions! Now, apparently, the pharmaceutical company has also increased the price of my medication. My hubby says the new insurance saves us $200 a month, reducing our premiums from $700+ a month to $500+ a month. This is for two people, each with a deductible of $1000. We have a small business and pay for insurance coverage for seven people. Fortunately, we can afford it...I feel sorry for those people whose employers can't afford medical coverage, or, others, like my son-in-law, who is self-employed and can't afford the premiums and therefore, is uninsured. If the costs of health insurance and health care continue to rise like they have the last ten years, I can see many small businesses canceling their employee's coverage, or going out of business trying to afford it. The question is, what do you do? Go without health insurance? Risky, at best. Our next step may be to invest in a Health Savings Account.