5 biggest reasons for the February rate increase of health insurance premiums:

I went to a seminar this morning and found this very interesting. I am not posting this as a political statement, just posting it as a tidbit of information that I learned from the seminar this morning. There is a 17% (average) health rate increase coming in February. Why must health insurance companies continue to raise their rates? I am not only a health insurance agent, but I am also a health insurance client, so this affects me too. Personal opinions aside, it is logical to me that if you add more coverage to a health insurance plan, there are added costs … If a health insurance plan used to pay 50% of a bill but is now paying 90% of that same bill, the health insurance company has incurred more costs, right? These costs will be passed on to the health insurance client (member). Anyway, according the this morning’s seminar, the top 5 reasons for the February rate increase are (in no particular order):

– The Governor’s bill requiring that MATERNITY is covered on every plan. Yes, even plans for single males, plans covering 60+ year old people not yet eligible for medicare, plans for infants and children … ALL PLANS MUST COVER MATERNITY

-Autism must be covered on all health insurance plans

-$68 annual tax on every man, woman and child covered by health insurance.

-Guaranteed issue for all children and all clients coming in January 2014.

-Women’s Wellness Coverage – Covering at $0 co-payment: birth control prescriptions, sterilization, breast pumps …