math class time

[dalej]

I told the guy 43% and he told me only 30%. I wanted to get the advice of you math majors.

I took 250 divided by 175 = 1.4285... thats where i got 43 percent
I thought that to figure it you would divide 175 by 250 that equaled 70 percent. If I take 250 x .70 = 175
So I wasn't sure what I was doing wrong.

[hobobimmer]

I took 250 divided by 175 = 1.4285... thats where i got 43 percent

I took the increase ($75) and divided it by your starting point, or previous payment ($175). That gives the 42.85714%, like Jon said.

Who would have ever thought three guys from East Tennessee might be able to help someone with a math problem?

eric faires
huntsville, TN

[dalej]

This is for our health insurance. The little girl and I took out a new policy a year ago and after a year it went up 42.85714% Wow! I best be looking around again.

[Ray Davis]

So, just to add insult to injury, if you now got a $75/mo decrease (back to original price), then you'd only be getting a 30% reduction.

Their 30% figure came from dividing by the new value, which is wrong.

$75 is a larger percentage of $175 than it is of $250.


Ray

[jonnie]

Sounds like "new math" to me. Was you agent employed by the Feds at one time?

[truk4u]

It's still Reaalllyyyy cheap from where I'm sitting and it's a 30% increase! You'll get different answers from the TN crowd.

[dalej]

So does my insurance guy tell me my premium went up only 30% when it really went up 43%. I can see both sides, but which one is really the correct way to figure the actual increase of a premium or anything else that has been going up?

[rickdesilva]

Wow Dale depending on your coverage $250 per mo is pretty reasonable for Husband/Wife coverage (if thats what you have). It costs me more for basic single employee coverage for our group policy Maybe because its NJ there's more people getting a piece of the action.

[tdelorme]

This is for our health insurance. The little girl and I took out a new policy a year ago and after a year it went up 42.85714% Wow! I best be looking around again.

While it's not a pure bait and switch tactic, every health insurance company I have dealt with in the last ten years or so pulls the same stunt. They will quote a reasonable premium for the first year to get the business and then do the 30 to 40% jump the second year. No big claims, just a big premium increase. We had Pacific Life health insurance for our employees for years. Great policy, reasonable premium no huge claims ever. Then they hire that darn whale, get all over TV and the premium doubles. That was six years ago and we've been switching every two years since. The plan I have for employees now is Total Plan Services out of Dallas. Not bad coverage but nothing like we had in years past and sure enough, I saw a letter come in today that I just know is the yearly jump in premium.
And while we're on the subject of health insurance, if you are 65 and have Medicare, whatever you do, DO NOT give up your traditional Medicare coverage. The Medicare Advantage plans that are all the rage these days are a joke. These companies will tell you anything to convince you to switch from traditional Medicare to an Advantage plan. The only advantage is that they are getting rich and you are getting screwed. You would think that folks who have reached Medicare age would have learned over the years that you don't get something for nothing. Medicare Advantage plans do not pay like Medicare does and if an agent of one of these companies tells you otherwise, he/she is either misinformed or a liar.

[Petervs]

You all should not expect any challenging math problem answers from the guys in Tennessee. You see, they run out of digits at 21 so problems like this are impossible for them to solve.