Individual Health Plans Going up 20%

With medical costs still rising faster than predicted and with more young people dropping coverage due to the economy, individuals can expect about a 20% increase in health costs. This comes at a tough time for most. From an insurance perspective, health costs will not go down until more people pay in to the system and the amount of claims are reduced. This is certainly not the direction of the country. Health insurance should not be called insurance going forward it is no longer following the laws of insurance, where many pay in for the claims of the few. Right now it is few  that are paying more and more for the majority who are making claims. Therefore when State exchanges go into place in 2014 it will resemble more of a Federal/State benefit not insurance. Stay tuned. Until next time be careful out there and know your risks. K

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