major boosts in premiums for well being insurance - Health Insurance

You have a variety of companies and plans to choose from when trying to purchase the right health care insurance for you and your family.

Health Insurance as An Employee Benefit

Health Insurance in Ohio

The premium for one insurance plan could rise almost 36 percent.

The insurers cite rising costs of medical care and federal health care reforms.

Under a new state law, health insurers must submit their premiums to the state Insurance Department for approval before they take effect.

?It?s getting to the point where health insurance payments are more than the mortgage payment.?

Shield was 13 percent, according to information filed with the state Insurance Department, but the increases range from 3.9 percent on one HMO to 28 percent.

Increases would range from less than 10 percent for 30 percent of members to 10 percent to 15 percent for 45 percent, and more than 15 percent for more than 22 percent of those covered.

Independent Health?s rates would rise 10 percent overall, but the increases would range from 7.4 percent on an HMO to 35.8 percent for its small-group high-deductible health plan, where the deductible is not changing. For 1 percent of the company?s small group subscribers, increases would exceed 21 percent.

HealthNow, the parent of BlueCross BlueShield, filed rates Sept. 1 and has talked to state regulators. Independent Health had notified them of an 11.8 percent increase. The cost of health insurance now is an almost unmanageable burden.

?In these economic times to propose an average 14 percent increase in health care is absurd,? wrote another person who appears to be an insurance agent.

A dental health care professional wrote: ?I wish my income increased as much as my health insurance premiums have.?

?To cover these increasing costs, we must modify premium rates.?

?Independent Health has evaluated the cost of our members? health services and benefit changes, including those mandated in conjunction with health care reform,? the carrier wrote in a letter to small employer groups.

Source: http://www.umdelts.org/major-boosts-in-premiums-for-well-being-insurance

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