≡ Menu

What is Going to Happen to Rates in 2014?

December 5th, 2012 – The major tenants of the Affordable Care Act, better known as ObamaCare, will come into place on January 1st, 2014.   At that time, health insurance will become guarantee issue and a host of new mandates will have to be added to all new plans.

So, the question is, will health insurance rates become more affordable as a result of the ACA?  Not likely.

The CBO estimates that premiums in the individual market will increase 10% to 13% on account of the health insurance requirements in the ACA. In the small group health insurance market, the CBO estimates that the ACA will have little impact on premiums.

Industry professionals expect increases above what the COB predicted.

Please note that this is in addition to normal insurance rate increases caused by the ever-increasing underlying costs of health care in America. Also, these differences in premium would be before income based federal subsidies are applied to anyone’s premiums, for those who are eligible.

 

{ 1 comment… add one }
  • Doug February 11, 2013, 10:44 am

    Dear Principal;

    We recently sent Colorado Health Insurance Brokers a letter announcing that your agency has been selected as one of the top insurance agencies in America based on positive customer reviews.

    Our research team at Insurance Training Associates, LLC reviewed more than 250,000 insurance agencies across the country and selected only the very best to achieve our goal of finding the Top 1000 Insurance Agencies in America.

    We encourage you to take a few minutes and visit our site at http://www.top1000ins.com and take a look at the criteria for selecting your agency.

    Congratulations on being selected.

    Best Regards,

    Doug Harness
    Insurance Training Associates, LLC
    4504 SW Corbett Ave
    Suite 200
    Portland, OR 97239
    503-265-8360
    email: doug@itaamerica.com
    website: http://www.itaamerica.com; http://www.top1000ins.com

Leave a Reply