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Rising Health Insurance Premiums

Last post 03-05-2008 1:39 AM by Shikha. 2 replies.
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  • 05-11-2006 8:00 PM

    Every year I seem to receive a notice that my health insurance premiums are going up. While this doesn't surprise me, the amount that it increases does shock me. Upon my next renewal, my quarterly payment will go up about $200. I am now paying more than twice what I originally paid when I first bought this policy about seven years ago, and I've even cut back on benefits significantly over the years. In seven years time, I'm paying more than double and receiving less coverage.
    I checked some quotes at Insurancepaylite and was able to check on several premiums I can afford. Hope this helps.

    Professionalism, Real Concern to Customer, Integrity, Dedication, Employer of Choice

  • 02-09-2007 2:44 PM In reply to

    • alp76
    • Top 50 Contributor
    • Joined on 02-09-2007
    • Posts 3
    Many places online have a quote tool that allows you to view free online health insurance quotes so be sure and compare rates at least on an annual basis.
  • 03-05-2008 1:39 AM In reply to

    With the beginning of 2008, there have been several changes in the health insurance sector, which was positioned at the end of 2007 to grow manifold- 145 per cent- over the next 3 years. Hence, there is likely to be a marginal increase in premium growth. If the same trend continues, the middle class shall no longer be able to afford insurance, with a substantial portion of their income already going as premiums. It is perhaps the most important domestic issue, that needs sorting out.

    Your health insurance premium went up the way it did over the years because insurance carriers increase their rates once a year. This rate has shot up at an average rate of 11% annually. So, buying insurance, or keeping up with the premiums is certainly going to be rough.

    You could buy insurance from entities that allow you to purchase it at a group rate instead of at the (significantly higher) individual rate. They can also negotiate good deals with the insurance companies. Your best bet it to find the one most effective coverage that you can afford.



     
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