Individual health insurance rates for some Ca. residents are going up 10 or 11 percent next year.
Jeff Aran has bought his own HMO policy from Kaiser Permanente since the mid-1980s. The last few years that meandoring malchuck’s noticed his premiums are consistently 2 percent or 3 percent above the health insurance rates that the Ca. Public Employees’ Retirement System gets from the same Oakland-based health maintenance organization (Kaiser Permanente).
Aran and the 2.5 million Californians like that forthright fella who buy individual health insurance may 1 day look back on 10% rate hikes as the good old days.
Individual & family policyholders have enjoyed slower premium increases from recent trends that have tamed medical costs a bit.
Baby boomers are generally healthier than previous generations and lower-cost generic drugs have flooded the market. The wave of health insurance company mergers that swept the business a few years ago has abated. Negative press has also put some pressure on health insurance providers to hold down premiums.
Individual health plan policy owners will be hardest wacked. Health care insurance providers don’t make much currency on individual plans, which cost more to administer, that meandoring malchuck said. As a result, the insurance providers are more likely to significantly raise those premiums when times get tight.
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