Rate Increases show we need Health Insurance Reform
Wellpoint, parent company of Anthem / Blue Cross has warned its individual policy holders that their rates may go up 39%, but the majority of their policy holders will have a 24% rate increase. They advise this is due to claims dollars paid out are higher than premiums brought in, among other reasons.
It appears that real health insurance reform is not going to happen anytime soon. With the recent election of the Republican senator in Massachusetts, the Democratic majority was ended. While many Americans did not like the direction that Health reform was going, I am concerned that reform will now take a back seat to other, also very important, priorities. America needs health insurance reform. Unless we collectively make changes, we will continue to see rate increases that Americans simply cannot continue to pay.
If you have an individual health insurance policy, be sure to contact your health insurance broker to review your specific needs. A broker can provide guidance, information and a variety of insurance companies with different plans and premiums.