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Grandfathered Health Insurance Plans?

Old 08-10-10, 08:11 PM
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Grandfathered Health Insurance Plans?

Not sure if this is the right place, but since it might involve politics, I figured I'd post it here...

My 2 year fixed rate for individual plan health insurance is almost up and the premium is nearly doubling to over $300, which I can't afford. I called to make some changes and was told about the extremely confusing "grandfathered" status of my plan, since I applied before health care reform. If I make the changes I want to lower the bill, I will lose this status.

The woman I spoke to on the phone was rude and not very helpful at all. Research on the topic has presented me with a mountain of legalese I don't really understand. Is there anyone here who might be able to explain the the significant benefits of grandfathered plans vs. new plans? Or point me to a site that does?
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Old 08-10-10, 09:41 PM
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Re: Grandfathered Health Insurance Plans?

Is your health insurance plan considered a "Cadillac" plan? Just curious. The company you work for might be trying to get a few extra bucks before they actually have to start paying taxes on it in the future (2018 I think).
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Old 08-10-10, 10:05 PM
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Re: Grandfathered Health Insurance Plans?

Cadillac? At $300 it sounds more like a Ford Focus.
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Old 08-10-10, 10:31 PM
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Re: Grandfathered Health Insurance Plans?

Originally Posted by Thor Simpson View Post
Cadillac? At $300 it sounds more like a Ford Focus.
Depends if he's young and single or old and married with kids.

$300 is definitely a Cadillac for somebody that's 25, single and no preexisting conditions.

I recently looked at switching plans and my carrier didn't even have a plan that approached $300 given my criteria. I think the most expensive plan was something like $230 or something.
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Old 08-10-10, 10:49 PM
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Re: Grandfathered Health Insurance Plans?

Originally Posted by whoopdido View Post
I recently looked at switching plans and my carrier didn't even have a plan that approached $300 given my criteria. I think the most expensive plan was something like $230 or something.
What kind of deductible and copay were attached to that plan?
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Old 08-11-10, 12:21 AM
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Re: Grandfathered Health Insurance Plans?

Originally Posted by Thor Simpson View Post
What kind of deductible and copay were attached to that plan?
Can't remember exactly, but it was good enough for me.

500 bucks maybe. Can't remember the co-pay. I only go to the doctor once a year at most, so medical expenses just isn't something I focus on.

Obviously things can always change, but I ended up switching to the lowest plan I could find, which was about $60 a month.

It's a $15,000 deductible, so basically it's just insurance in case something really bad happens to me and I'm just taking my chances that I won't need anything minor and won't have to go to the doctor 4 or 5 times throughout the year.

My thinking is that I'm healthy and I don't forsee my health changing in a major way in the next year, so I shouldn't need to go to the doctor more than once and I'll just eat the cost of the one doctor visit, but if I get into a car accident or something my medical expenses are going to be so far above the 15 grand that it won't really matter and since if I can afford 15 grand if I REALLY have no other choice (certainly won't like it, but it won't break me) I plan on just NOT having to pay for extra medical expenses and pocket what I would have spent on insurance and I'm covered in case something really bad happens to me and I rack up 300 grand in medical costs.
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Old 08-11-10, 12:29 AM
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Re: Grandfathered Health Insurance Plans?

My initial reaction is that if she was rude, she was not trying to help you with her suggestions.
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Old 08-11-10, 03:01 PM
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Re: Grandfathered Health Insurance Plans?

For those asking I am 33 and single. The only pre-existing condition was excema, which is kept under control by creams and isn't really even that bad. Nothing expensive. Only had surgery once as a teenager after a bad car accident.

The plan was not a "cadillac", although I remember them trying to sell me one of those 2 years ago. It was upper tier though, but didn't cover a lot of regular doctor stuff. It was geared more toward coverage for surgery, hospital stays, etc. I pretty much never go to the doctor. I've been maybe 5 times since I graduated high school. I rarely get sick. This plan was intended to protect against serious injury in car accidents, sudden unexpected shit like cancer... you get the idea.

It was $160 a month for 100% coverage after a $5000 deductible. It's the first insurance plan I've ever had since leaving my parents at 18. Starting in 2 weeks they want $312. It's just too much. By dropping down to 80% or 50% coverage and decreasing the cost, I lose the so-called grandfather status. But nothing I've read online has really been able to tell me exactly what that means.

Last edited by Living Dead; 08-11-10 at 03:11 PM.
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Old 08-11-10, 03:24 PM
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Re: Grandfathered Health Insurance Plans?

Originally Posted by Living Dead View Post
I lose the so-called grandfather status. But nothing I've read online has really been able to tell me exactly what that means.
Essentially, this covers any incident that occurs on someone's lawn.
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