Friday, October 23, 2015
It's benefits enrollment time
Awesome right? It's that time of the year where you get to pick and choose what coverage you'd like to purchase for you and your family's medical, dental, and eye insurance needs.
The Backyarder Camp plan from 2015 has changed and will not be considered the same plan in 2016. It has gotten worse actually. In order for my camp to be on a co-pay plan, we will need to move up to a more expensive plan.
Without going into specifics about earnings, the 35.64% increase in premium costs for 2016 that I was just punched in the dick with, will make things a little interesting in the financial planning department of the Backyarder Camp. We are all going to have to get creative if we plan on maintaining the level of comfort we are used to. We don't live in a McMansion, have very little college loan debt left to pay, and all of our vehicles are paid for. We have good credit thanks to responsibly planning our purchases and sticking to a disciplined and punctual repayment plan. How much more responsible do you have to be to catch a fucking break these days?
Here's what happened... ACA was passed as "law" and the insurance companies saw that as being backed by the government financial enforcement arm (IRS) to basically increase their premiums to what the market would bear. When you have the government saying "You must purchase this or be taxed gradually over the years into oblivion through withheld income taxes, property liens, or personal property confiscations for not participating", they are giving the green light to insurance companies to basically raise their prices to what they think people can pay. Yeah, sure you don't have to participate, but don't think for one second that they won't take a tax cut out of your ass for it. And so, by forcing you to purchase something through threat of heavy taxation, it has opened the door for insane increases that the insurance companies know they can get away with.