UniCare / WellPoint / 384% yearly rate increases
I am currently (but soon not to be) a customer of UniCare. My insurance rate was $161 per year. On November 1, my rate rose to $225. On January 1, it goes up to $264.
My deductible is $2,500. I have bare-bones insurance. I only go to the doctor once or twice a year for minor ailments.
That is a rate increase in two months of 64%. If, in 2008, these rate increases continue, that would be an increase of 384% per year...
384% PER YEAR!!!
That is 83 TIMES the inflation rate of 4.6%. 83 TIMES!!!
I cannot afford this. I cannot believe that UniCare thinks this is a reasonable way to treat its customers. Do they honestly think that people can afford this? I know I can't. I will be looking elsewhere for insurance, but will probably have to end up doing without.