Monday, November 10, 2014

SHOCKING: Health care costs expected to rise in 2015

11/10/2014


2
0
Health care costs expected to rise in 2015
Photo: 
Now is the time to secure or renew your health care plan for 2015.
Since the Affordable Health Care Act went into effect last year, healthcare has become more accessible than ever before, but the affordability of a health care plan is still in question.
Thanks to ACA, the number of uninsured people in the valley fell by about 13 percent in 2014.
Still about one out of every four people in the valley aren’t insured, one of the highest uninsured rates in the country.
For those that are insured, out of pocket costs are on the rise.
According to a report at the PricewaterhouseCooper’s Health Research Institute, health care costs are expected to grow nearly seven percent in 2015.
Enroll America field organizer José Medrano says some of that growth will be passed on to consumers.
"In terms of changes in pricing, the best we can say is there may be a variance of 5-6 percent for the consumer," Medrano said.
Insurance companies won't reveal their new rates until November 15th.
That’s why Smith-Reagan Insurance agent Larry Hanawa can't yet quote prices for 2015.
"There’s a lot of unknowns, a lot of changes, in the rules, so this is the first year when insurance carriers will be looking at their claims for the past year," Hanawa said.
Why the uncertainty?
This is the first year insurance companies have been forced to accept those with pre-existing conditions, and it undoubtedly cost them.
"Now everyone was accepted so the claims will be different than in the past," Hanawa said.
As the cost of health care grows for businesses, employees benefits shrink or their premiums grow.
"It’s a large expense for employees and businesses so when they have a certain amount of budget they can dedicate to healthcare, they have to try and stay within the budget and they may have to switch to a higher deductible plan with a premium that will stay in budget," Hanawa said.
Fortunately, for most Texans who enroll on healthcare.gov, the cost is subsidized.

"Eighty percent of those who purchased healthcare on healthare.gov received financial assistance," Medrano said.
Confused?
That's why Hanawa advises talking to a licensed agent or employer’s HR representative, so when you actually use your insurance, you aren't surprised.
"There’s a lot of info out there but not all that info is accurate," Hanawa said.
Enrollment in high deductible plans has tripled since 2009, all in an effort to keep premiums more affordable.
For information on how to find free consultations visit enrollamerica.org. 


source

No comments: