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Rates Up 21 Percent For Individual Health Coverage

People shopping for individual health insurance policies in Connecticut saw price increases in line with those knowledgeable by others throughout the country, according to Connecticut Insurance Department statistics and a recent report by the nonprofit Kaiser Family underpinning.

Most people get health coverage through an employer or some other collection plan â?? about 157 million Americans who are younger than the Medicare eligibility age of 65, according to the report. But for those who shop on the individual market, about 14 million Americans, the price has risen stridently. The standard price enlarge this year in Connecticut was 20.7 percent, somewhat higher than the national rate.

The Kaiser Family Foundation study unconfined Monday found that some people decided to choose for a less luxurious plan or insurer. For those who switched insurers or plans, the quantity paid on the individual market was 13 percent higher this year compared with 2009.
Part of the reason for the increase is the recession â?? young, healthy people are choosing to go without insurance, leaving behind a group that is big and has more health problems, said Robert Zirkelbach, a spokesman for the individual health insurance operate group America’s Health Insurance Plans.

The clarification for the increases in health insurance costs has been debated by insurers and healthcare-reform advocates. The latter group points to insurance companies’ revenue margins and executive pay. Insurers, in turn, point to increasing medical costs and health insurers’ 3-to-5 percent profit periphery compared with larger profit margins at other medical businesses, such as biotechnology and pharmaceuticals.

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This entry was posted on Thursday, June 24th, 2010 at 7:24 am and is filed under Health Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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