Some states anticipate large hikes in insurance premiums
May 29, 2015
Some states are seeing insurers asking for large hikes in their premiums, some as large as 50%. Some say that part of the large changes are because insurers are only now able to accurately price their policies, given how recently the statewide individual exchanges have rolled out.
Clearly, these changes are not great for consumers in the short run. I suspect that as premiums continue to rise, though, more and more people will consider the lower-tier plans (e.g. bronze) and will wrestle with the question of whether the higher premiums are worth the lower deductibles. In turn, as more and more people are exposed to the state of pricing in health care, there will first be more pressure to be able to find out prices easily, and then more attention on why health care costs as much as it does.