Health insurance cost continue to rise. United Healthcare, a large national health insurance carrier, has estimated that if all of the parts of the Affordable Healthcare Reform Act are implemented by 2014, the cost of individual health insurance will rise by 116%. The average annual rate of increase of individual health insurance costs increases by about 12% per year right now. Post-reform rates are estimated to increase by 116%. Group insurance is estimated to increase by as much as 50% more. So a family now paying $12,000 per year will be paying $18,000 per year by 2014 when all the new fees and taxes are implemented. An additional $500 a month for people on a group plan. For individuals its much worse. For a family paying $12,000 per year now, that premium will be $25, 920 by 2014. Why do you suppose they designed it to hurt individuals more than groups? I can't answer that but it does seem odd to me.
One thing is for sure, we should all be prepared for significant increases in our medical insurance cost if the Act is fully implemented. Insurance Professionals of Arizona is a full service insurance brokerage and we write not only health insurance but also auto and home insurance in Arizona and many other states. If you have questions about insurance, we would love to help answer them. Please call 480-981-6338 or visit us online by clicking IPA