Retiree: Peace of Mind

Before Annie Busch took early retirement from her role as executive director of the Springfield-Greene County Library District, she researched her health insurance options. The insurance company that she was with at the time rejected her once she left her post.

At 63, Busch is still too young to receive Medicare. She pays more than $400 a month for private insurance that has a $3,000 deductible and several co-pays, she said.

The biggest benefit she sees to health care reform prevents insurers from dropping customers who get sick.

“I’m pretty healthy, but I live in fear,” Busch said. “I consider every time I go to the doctor whether it’s going to be something that my insurance company might interpret as a reason to drop my coverage.”  

By Sept. 23, however, insurers will no longer be able to avoid paying costs associated with an illness by rescinding policies. The reform also does away with pre-existing conditions as a reason for insurers to reject applicants.

Initially, pre-existing conditions are waived for children, defined as those age 26 and younger. Starting in 2014, however, companies won’t be able to refuse any customer because of individual health status, including pre-existing conditions.

While those new regulations bring Busch some peace of mind, she still expects her health coverage expenses to increase.

“If you’re wanting to make a profit, you raise prices,” she said.[[In-content Ad]]