Insurance Rates

[deeshopper]

I'll be in the ground by my mid-50s. Always thought that. No reason for it, but I do.

[cravnravn]

STOP THAT TALK

[dc.]

My insurance has gone up slightly each year I've worked... luckily my employer has a great plan and pays over 90%, so I pay about 200 a month covering myself and child. Wife is still on her own and pays less for a similar plan.

 

I went on the MD exchange for Obamacare and found we could all 3 get a bronze plan (high deductible) for $300 a month, no subsidies included. Supercheap especially considering that's about what we pay now (for a "gold plan") even with my employer paying so much.

 

Costs are up for many reasons... I don't think the law is one of them. If you ever see the numbers, it's amazing the bills we pay compared to the rest of the world. But who gets the best rates? Not surpringly, Medicare... because they group negotiate for so many individuals!

[dc.]

Also re utility rates... if you're in MD, pick a non-BGE supplier. I switched to Castlebridge: rates a full 2 cents less than BFD, even more in summer, and only locked in for 1 or 2 years by your choice. While BGE keeps announcing increases, I've saved $25+ a month at times just by changing the supplier.

[cravnravn]

My insurance has gone up slightly each year I've worked... luckily my employer has a great plan and pays over 90%, so I pay about 200 a month covering myself and child. Wife is still on her own and pays less for a similar plan.

I went on the MD exchange for Obamacare and found we could all 3 get a bronze plan (high deductible) for $300 a month, no subsidies included. Supercheap especially considering that's about what we pay now (for a "gold plan") even with my employer paying so much.

Costs are up for many reasons... I don't think the law is one of them. If you ever see the numbers, it's amazing the bills we pay compared to the rest of the world. But who gets the best rates? Not surpringly, Medicare... because they group negotiate for so many individuals!

 

You just can't have Medicare DC, you better have a part b partner as in AARP or you're screwed, Medicare is ok but us coming up on it know we have to have a supplement plan or we are screwed

[Spen]

I'll be in the ground by my mid-50s. Always thought that. No reason for it, but I do.

 

With my wife it was 26. She always had a gut feeling she would never make it to 26. She is well well (and well) past that now.

 

I better password protect this tablet :-)

[cravnravn]

I figure 65 for me. Hence why I'm enjoying my last 13 years here

[dc.]

Wasn't saying it was enough as it functions now, just that naysayers on single-payer systems ignore the massive savings that accompany the group negotiating system.

[cravnravn]

Wasn't saying it was enough as it functions now, just that naysayers on single-payer systems ignore the massive savings that accompany the group negotiating system.

 

Gotcha, hey Im starting to read up on this stuff myself, its right around the corner

[RavenMad]

I figure 65 for me. Hence why I'm enjoying my last 13 years here

 

That's the number I'm looking at as well. My grandfathers died at 65 and 70. My dad has already had a heart attack in his early 50s but is doing ok now. I don't hold up much hope of reaching my retirement especially if they keep raising the state retirement age. I'm trying to enjoy things as much as possible while I am young while still making sure my family is taken care of when I'm gone.

[cravnravn]

Just got the dagger yesterday,

 

If you smoke, 25% weekly increase

[thundercleetz]

Also re utility rates... if you're in MD, pick a non-BGE supplier. I switched to Castlebridge: rates a full 2 cents less than BFD, even more in summer, and only locked in for 1 or 2 years by your choice. While BGE keeps announcing increases, I've saved $25+ a month at times just by changing the supplier.

Hey DC I had never heard of Castlebridge up until you mentioned it. How hard is it to switch? I am enrolled in BGE Budget Billing so I'm trying to figure out what would save the most. What are your thoughts?

[ForceEight]

I'm losing about $55 per biweekly paycheck for a plan from a provider based in Minnesota that is rarely accepted anywhere out here. $20/$40/$35 copays. If I wasn't 24 and unconcerned with my health, it wouldn't be enough on its own, even at that age. It is disgusting how much insurance it takes to cover oneself enough to simply survive.

[dc.]

Cleetz - switching is super easy. Not sure how much you know about 'energy choice,' but pretty much BGE still provides all the service but your "electricity" (and gas if you have it) are technically provided into the system by your chosen provider. Bill still comes from BGE and is paid to them, but your services portion is charged on a separate page to the chosen company. [Forgot to mention - you still have to pay BGE for all the random fees like delivery, etc - so your savings are not quite the full 20% or so you can get with cheaper options, but it's still WAY cheaper.]

 

All you do to sign up is go to the provider's website (or you can do it in paper) and enter your BGE energy code or something (on your bill). For some they require a contract for a certain amount of time (similar to cable), others you just sign up monthly or whatever. Castlebridge, who I had never heard of, not only had the lowest rates I could find, but also the shortest required contracts. Some, like Commerce, are kind of a rip off (even though they are better than BGE) because you get a low intro rate that then changes later - and there is a penalty for ending before the term (3-5 years!) is up.

 

This site from OPC shows a comparison of available providers (for electric). I am sure they have a rate chart for gas too if you need it. You can also switch for only gas or electric, or maybe even do a different company for each. http://www.opc.state.md.us/LinkClick.aspx?fileticket=7kHRcZl-vs0%3d&tabid=71

 

Quick look - Castlebridge is still at about 8.25c per kwh. I see one cheaper (ConEdison) that is down to 7.9c per kwh if you sign on for two years. Looks like neither have a cancellation fee. Get on it! (By comparison - BGE's non-summer rate for this year is 9.6c per kwh and usually over 10.5c in the summer. These alternate providers don't change by season)

 

For 1000kwh per month (we use around 800 most months), this is a difference of about $15 in the winter. In summer it's closer to $25 or so. Plus we add Peak Rewards in the summer and get another $20 or so.

 

Also added - I think you can probably still do BGE budget billing through this, but not sure. I don't know if budget billing is actually any savings, or just a more "even" bill.

[cravnravn]

I'm losing about $55 per biweekly paycheck for a plan from a provider based in Minnesota that is rarely accepted anywhere out here. $20/$40/$35 copays. If I wasn't 24 and unconcerned with my health, it wouldn't be enough on its own, even at that age. It is disgusting how much insurance it takes to cover oneself enough to simply survive.

 

I'm losing about $55 per biweekly paycheck for a plan from a provider based in Minnesota that is rarely accepted anywhere out here. $20/$40/$35 copays. If I wasn't 24 and unconcerned with my health, it wouldn't be enough on its own, even at that age. It is disgusting how much insurance it takes to cover oneself enough to simply survive.

 

you'd be better off to see what Barry has to offer, seriously

[thundercleetz]

Thanks for all the awesome info DC! I certainly do notice now that BGE's electricity rates are high. Gas looks comparable, but I'll have to look at old bills to see what seasonal fluctuation looks like. Who do you use for gas?

[cravnravn]

Thanks for all the awesome info DC! I certainly do notice now that BGE's electricity rates are high. Who do you use for gas?

 

Bush's Baked Beans

[deeshopper]

Ahahahaha! Awesome.

[dc.]

No beans here... no gas either.

 

Our neighborhood doesn't even have gas lines, so we're on oil and many neighbors are on oil or heat. It's stupid how expensive oil is - though oil has stayed fairly consistent this year and perhaps even down a bit (like gasoline prices). Still more expensive than the slowly rising natural gas costs.

 

On the issue of not having it - apparently we're too small a neighborhood for when they were installing lines and not connected to any more significant entities like businesses, etc. There used to be a way to almost petition BGE to run gas lines, but I can't find any info. If anyone knows how to get them to consider adding us, I am sure they would have most of the neighborhood converted in no time!

[cravnravn]

DC, another scam..OIL, our home was heated with oil, and it was our choice..heating oil when we built was .89 a gallon, and that was 2001, even thru the winter of 2005 it was never over 1.59 a gallon..Then Katrina hit, folks just dont budget that much for the costs of oil, it was ridiculous thru the winter..200 for electric, and 400+ for oil..That was for Dec, Jan, Feb & 1/2 of March..

 

I dont feel bad at all having 300 a month electric bills to get us through, June, July & August & September, Heck the bill I just paid this morning was 100 less than last months bill.

 

Good luck with that oil, and keep up on that oil burner maintenance

[dc.]

Oil is definitely cheaper than electric for heat - at least around here. We paid about $1000 for oil - and used it from October thru parts of March. We're already using it this year - as much as I tried to hold off, once it hits 40 in the night, it's hard to keep the house warm. Our electric stayed steady at about $100/month, sometimes under (and that was before our lower electric rate).

 

My wife's brother lives up the street in a nearly identical house and has electric. Now, they certainly run it more than we do (therm at 70 instead of our 67 when home), but their bills were outrageous. I think they had several in the 300-400 range for electric and a few over 400. Even if they were monthly only at $200 over their normal bill, over the course of the 5-6 months they use heat, that's the same $1000 if not more. If they were OVER that $200 a month addition, they were paying well more than we were.

 

Either way, I would prefer to be on gas. But it's simply not an option! I am definitely going to invest over time in a more efficient burner as well as some heat-saving items around the house. We've got great insulation, it's the windows and doors!

[cravnravn]

Well you could always go propane, but you'd have to check county ordinances to see if you have to have the tank buried, if you do thats a big expense.

 

Shop around for those oil prices when needed, I know in your area hoffberger has that market locked up, but most oil companies will travel up to 50 miles to deliver oil..I would use Bay Oil in Havre de Grace, 02 a gallon savings made me feel better..

[dc.]

So bad news - and bad timing - Castlebridge just sent me a letter they aren't offering service in our area anymore and we're being transitioned to Washington Gas Services or something. I will have to look into them. They are going to honor the six months of the contract remaining... but I guess Castlebridge's low prices were just too good to be true.

 

I will have to look into the others - like ComEdison or whatever for new alternative. Regardless, almost all suppliers are cheaper than BGE's changing rates.

[deeshopper]

I'm using Dominion Energy, but I haven't compared their rates to BGE's in a long time.

[dc.]

Castlebridge is simply leaving "retail" energy and sold its contracts to Washington Gas something something... they have lower rates than BGE, but higher than I was paying. Again, I'm at least locked in for the next six months based on the old contract.

 

ConEdison still has a super low rate, though - lower than I am paying now. The new BGE summer rates will be out this month. When they come out and are not only higher than present, but also higher than last year, I will probably transfer again. I guess it's a "risk" to lock in for two years (though there is no cancellation penalty with ConEdison, so not really a risk?), but if the rate is a full 2-3c cheaper than BGE (and 1c cheaper than most others)... I just don't see prices going down that much again in that time period ... if ever.