Insurance - USM Forum -- Message Board

Date: May 11, 2006

Insurance

Date: May 11, 2006

Worker Bee wrote:

I already have my son on a bluecross/blueshield that has lower premium

Of course your son's health insurance has a lower premium than you have (unless you are younger than your son). That's the way most insurance works. The older you are the higher the premium. My son's insurance finally got so unbelievably high it had to be dropped.

Date: May 11, 2006

actually health insurance is pooled, they can not discriminate because of age like they do with life insurance.

Date: May 11, 2006

No, sorry, I must be communicating poorly. My son's health insurance with BC/BS is $74/month and he's 3 years old. Compared to the insurance offered by the university thats a windsong.

The premium for a family (with the employee part paid by the univ.) is almost $500/month. That's just plain silly.

My point is, our insurance sucks (compared to what one can get on their own). . . . . and the premiums continue to increase.

Date: May 11, 2006

doubter wrote:

actually health insurance is pooled, they can not discriminate because of age like they do with life insurance.

If you get a quote from BC/BS the premium is largely based on two criteria - age and tobacco use. Now, with our "self insured" system, all pay for the unhealthly of lifestyle.

Date: May 11, 2006

doubter wrote:

actually health insurance is pooled, they can not discriminate because of age like they do with life insurance.

The premium can and does rise if the premium for the entire group or policy class rises I believe. The older a class of policyholders, the more medical probems they have. Its not surprising that the younger the policyholder the less the premium.

Date: May 11, 2006

I am aware of some people who say they can't retire because they can't afford the high private insurance premiums; and they are not old enough to go on Medicare. Medicare is the best thing that has occurred since Social Security was established.

Date: May 11, 2006

Change, I'm not sure what it is that you are not reading from my posts but - our insurance premiums (which are already MUCH higher than that found in the industry) are increasing again. And, it doesn't matter what your age or health - we all pay the same dad-gone amount.

Date: May 11, 2006

Worker Bee wrote:

Change, I'm not sure what it is that you are not reading from my posts but - our insurance premiums (which are already MUCH higher than that found in the industry) are increasing again. And, it doesn't matter what your age or health - we all pay the same dad-gone amount.

I am reading, and understanding, your posts very well. Sure your premiums are increasing. You are in a group or class (Mississippi Employees). The rising premium is undoubtedly based on the claims experience of that class or group. They will, no doubt, continue to increase in the future. Your 3-year-old son, on the other hand, probably has a private individual policy.

Date: May 11, 2006

Worker Bee wrote:

And, it doesn't matter what your age or health - we all pay the same dad-gone amount.

One dimension you failed to mention is "pre- existing conditions." The state's insurance plan beats the private sector hands down.

Date: May 11, 2006

Worker Bee wrote:

My point is, our insurance sucks (compared to what one can get on their own)

I would never advise anybody what to do. I can only say what I believe is best for me and my family. When you retire I suppose you can stay with the state's plan (PERS) or go off on your own and secure a private policy. I've asked quite a few retirees which they chose. Without exception, they all stayed with the state's plan.

Date: May 11, 2006

Change wrote:

... When you retire I suppose you can stay with the state's plan (PERS) or go off on your own and secure a private policy. I've asked quite a few retirees which they chose. Without exception, they all stayed with the state's plan.

I retired, got on Medicare when I reached 65, and have the state BCBS as my supplemental insurance. Until I reached 65 the state plan was relativity expensive ($350/month), but is now only $137/month as a supplement since I also have Medicare D (Rx Drug). I believe we get a good price because the university/state group is relatively younger as a group.

Date: May 11, 2006

I am 9-month, and my wife and one kid will now cost about $830 a month (with dental) on the state plan to insure--a rate increase of about $70 a month! The insurance coverage is pretty lousy here also. I just turned down a couple of jobs (family wants to stay for now) at state institutions in two separate states. Comparing the benefits there with USM make one aware of how poor the compensation packages are here for faculty and staff. The family coverage in both states would have been about $180 a month, included dental (which is extra here), and the benefits kicked in at a much lower deductible. TIAF-CREF was about a 3% out of check pay out with a 9-10% state match (here you do about a 7% out of check payout with a match, meaning 4% less cash for a 403B deferred contribution). The salary would have been significantly more after regional COLA. Dependent tuition benefits far superior. Etc...

The most recent increase in insurance means the state has essentially reduced our compensation without input from labor and without a whimper. It sucks--but that's what you get in a "right to work" state that does not value higher education.

Date: May 11, 2006

I agree that our health insurance coverage "sucks"-- and this is especially true for retirees who move out of state. It rarely pays. I've heard that they might as well not carry it any more. I hope you at least get something for your large premium.

Date: May 11, 2006

Sticker Shock wrote:

I am 9-month, and my wife and one kid will now cost about $830 a month (with dental) on the state plan to insure--a rate increase of about $70 a month! The insurance coverage is pretty lousy here also. I just turned down a couple of jobs (family wants to stay for now) at state institutions in two separate states. Comparing the benefits there with USM make one aware of how poor the compensation packages are here for faculty and staff. The family coverage in both states would have been about $180 a month, included dental (which is extra here), and the benefits kicked in at a much lower deductible. TIAF-CREF was about a 3% out of check pay out with a 9-10% state match (here you do about a 7% out of check payout with a match, meaning 4% less cash for a 403B deferred contribution). The salary would have been significantly more after regional COLA. Dependent tuition benefits far superior. Etc... The most recent increase in insurance means the state has essentially reduced our compensation without input from labor and without a whimper. It sucks--but that's what you get in a "right to work" state that does not value higher education.

If your insurance is 830 a month, I am shocked,...If you are paying that kind of premium with the state then the insurance program is COMPLETELY out of wack...I find it hard to believe that premiums are that high...You must really like your work or your situation to be paying those kind of rates

Date: May 11, 2006

shocked wrote:

If your insurance is 830 a month, I am shocked,...If you are paying that kind of premium with the state then the insurance program is COMPLETELY out of wack...I find it hard to believe that premiums are that high...You must really like your work or your situation to be paying those kind of rates

The family coverage just went up to about $750 plus another $90 for dental per month. That is over 9 months. 12 month employees would have it spread out over 12. I like my work and living here (despite the hurricanes). I just do not like the IHL or our state legislature or our administration (that is why I looked elsewhere). When folks move to FGH or Wesley, or start looking out of state, they are usually shocked about how we are taken for a ride. It also makes it real tough to retain faculty and staff (much less recruit them). The family is on board with a move in a few years, and I anticipate that we'll move on then--I don't think Mississippi government will get its act together enough to make it attractive to stay on any longer than that (though I originally planned to finish my career here).