Expect Rate Hikes For Health Insurance
Many leading health insurers are already stating they expect health insurance rates to spike in 2017. One leading California insurer (Covered California) has said rates will increase over 13% in 2017.
Your actual rates will depend on a number of factors including, where you live, and your income.
The 2017 enrollment period is fast approaching, so we thought it would be a good idea to provide you with some general information.
- Are all health plans going up? It is most certain that all individual and group plans will experience some level of increase.
- When will the premium increase take effect?
- For Individual Family Plans on January 1, 2017
- For Group Plans upon your renewal date
- Are there ways to limit the premium increases? Yes, by choosing a plan with the same carrier but with less benefits or picking a different plan with a different carrier.
- Where can I shop for my health insurance? Our agency offers coverage through all the major providers, call our office and we can help you review your options on Nov 1st.
Open enrollment for individual and family plans begins Nov. 1, 2016 and ends Jan. 31, 2017. These dates apply to plans purchased through Covered California or the open insurance market.
Roussel Insurance & Financial Services is a recognized leader in the insurance industry. We offer highly competitive insurance rates for both business owners and individual services. With 30 years of experience, we continue to offer our clients exceptional service.
This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.