Will Health Insurance premiums increase in 2017? Undoubtedly yes – but how much? There are average rate increases that are projected, both for the industry as a whole and for individual carriers such as Anthem Blue Cross, Blue Shield, etc., but how does that help the average consumer know what to expect?
A average rate hike of 10% might be projected for the industry as a whole, when a rate is run on a specific plan for a specific family, the rate increase could be 40%… or 0%. So the averages really don’t help the individual consumer.
But residents of certain counties (Orange County CA included) might be in luck. Why? Because there are a couple of new carriers that will be offering plans in OC – and the early news is that their premiums are competitive.
Open Enrollment starts in October, so if you feel like you’re paying too much for your health insurance, check with a licensed insurance agent/broker to see if you can get a lower rate for 2017.
Neil Steinman is the principal of Orange County Health & Life Insurance in Orange County, CA – and has been serving the needs of California residents for nearly 20 years.