California Individual Health Insurance trends. . . .
Posted by Rachel Romero on Sat, Oct 30, 2010 @ 10:16 AM
The economy is hurting - especially in California - where it is projected that 22% of the population is unemployed and the under employed. Many of these people had group health insurance through their employer. They are now stuck trying to find or afford California individual health insurance.
Some people are surprised to find out that:
1. California Individual health insurance is less expensive than what their employers were paying for group health insurance - that is because:
2. Individual health insurance can deny health insurance to applicants - you go through medical underwriting - it is different than your group plan where all employees had to be accepted into the plan. Because of this - group plans have had a higher % of sick people on their plan than individual policies.
3. California individual health plans are starting to raise their premiums. . .it's always a good idea to shop your plan every 2-3 years to make sure you are getting the best deal.
One economist is blaming the economic condition for the increases in individual/family health insurance premiums. As families cut costs - the healthiest are dropping their medical coverage - leaving only the sick/or the worried about becoming sick continuing to pay for their individual and family coverage.
Another trend that we are seeing in the individual health insurance marketplace is people electing high deductible health insurance to save money on premiums - but because of the economy - they are delaying medical treatment since they cannot meet that high deductible.
In an ideal world - high deductible plans would be coupled with Healthcare savings accounts where people put money away tax-free and get to spend that money on eligible medical expenses tax-free. But in today's economy - the question is - who has money to save??
Looking for a quote on California individual health insurance? Make sure you are getting the best deal - click the button below for FREE, no obligation quotes.
