Most of you know I fish and my brother and I have been buying boats together for 30 years. We buy nice boats. 70K bass boats. Every 3 years.....Probably not this year. My brother, like me, is self employed. Fortunately, I'm covered by my wife's company insurance but he has to go out into "the marketplace" and his premium is around 950.00 monthly, except the fact he will receive a 62% price increase this year. That's 1550.00 monthly for a policy which carries a 12000.00 deductible. Now, he makes good money, mid 6 figures but with no end in sight to the increases it doesn't make sense to drop 30 K on a boat. Not to mention what my costs will be when my wife quits work, which she would like to do but we literally need the insurance.
I don't think the American people understand the economic ramifications to run away insurance costs. I know people don't understand what is happening to cause these dramatic increases. The fact you can plan, save, scrap, work like dogs to get to retirement, only to be faced with the prospect that insurance will keep you working well past what you want.
I'm disgusted. It's hard to fathom a 3k insurance bill each month.