I have an individual health insurance plan with Assurant; my annual deductible is $5,000. When I first contracted with Assurant in 2009, my monthly payment was $88.97. In 2010, it increased to $105.32, an increase of 18%. I’ve just been notified that it’s going up to $126.02, an increase of 20%. That’s an average increase of 19%. What can I expect in the coming years? If this rate of increase holds constant, here’s what my monthly premiums will be.
2009: $88.97
2010: $105.32
2011: $126.02
2012: $149.96
2013: $178.47
2014: $212.36
2015: $252.71
2016: $300.73
2017: $357.87
2018: $425.86
2019: $506.77
2020: $603.06
2021: $717.64
So just ten years from now, my annual health care premium would be $8,611.73. Let’s keep going.
2022: $853.99
2023: $1,016.25
2024: $1,209.34
2025: $1,439.11
2026: $1,712.54
2027: $2,037.93
2028: $2,425.13
2029: $2,885.90
2030: $3,434.23
2031: $4,086.73
So in 20 years, I’ll need to be taking home almost $50,000 a year—just to pay for health insurance.
It’s a little early to be thinking about Christmas, but nonetheless, it seems appropriate to quote from Dickens.
“Before I draw nearer to that stone to which you point,” said Scrooge, “answer me one question. Are these the shadows of things that Will be, or are they shadows of things that May be, only?”
Still the Ghost pointed downward to the grave by which it stood.
“Men’s courses will foreshadow certain ends, to which, if persevered in, they must lead,” said Scrooge. “But if the courses may be departed from, the ends will change. Say it thus with what you show me?”
The Spirit was immovable as ever.
Photo by Michal Daniel, courtesy Guthrie Theater
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