Monday, June 28, 2010
(graphic: Southern Beauty)
Insurance companies have been raising premiums by an average of 20% on individual health plans, according to The Henry J. Kaiser Family Foundation.
A new report shows that more than 75% of those surveyed who bought their own health insurance endured a premium hike either with a current or previous insurer. About 16% said they rejected a proposed rate increase, causing them to switch insurance companies in order to save money.
But changing plans was likely to mean accepting less comprehensive coverage. Forty-nine percent of respondents who switched said their new plan offered worse benefits than their previous plan. Only 11% wound up being better off by changing insurers.
-Noel Brinkerhoff
Recent Premium Increases Imposed by Insurers Averaged 20% for People Who Buy Their Own Health Insurance, Kaiser Survey Finds (Henry J. Kaiser Family Foundation)
Survey of People Who Purchase Their Own Insurance (Henry J. Kaiser Family Foundation) (pdf)
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