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Florida Health Insurance Rate Hikes and Quotes.txt

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For more information on Health Insurance Rates please check out;
http://healthinsurancenerd.com/ar/health-insurance-rates.php

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Florida Health Insurance Rate Hike

Florida Health insurance premiums have touched new heights! Every Floridian has the common
knowledge that most annual health insurance contracts will endure a rate increase at the end of
the year. This trend is not new and should be expected. Every time this issue pops up it seems as
though the blame game starts. Floridians blame Health insurance companies; Health insurance
companies blame Hospitals, Doctors and other medical care providers, Medical care providers
blame inflation and politicians, well, we really don't know what they do to help the issue... No one
seems to be interested in finding the real cause of the health insurance premium rate increase.
Most individuals, self employed, and small business owners have taken Florida Health Insurance
Rate Hikes as the inevitable evil.

Hard Facts

What are various reports telling us? Why do Health insurance premium have annual rate
increases?

Rate of inflation and heath insurance premium rate increase.

America's health expenditure in the year 2004 has increased dramatically, it has increased more
than three time the inflation rate. In this year the inflation rate was around 2.5% while the national
health expenses were around 7.9%. The employer health insurance or group health insurance
premium had increased approximately 7.8% in the year 2006, which is almost double the rate of
inflation. In short, last year in 2006, the annual premiums of group health plan sponsored by an
employer was around $4,250 for a single premium plan, while the average family premium was
around $ 11,250 per year. This indicates that in the year 2006 the employer sponsored health
insurance premium increased 7.7 percent. Taking the biggest hit were small businesses that had
0-24 employees. There health insurance premiums increased by nearly 10.4%

Employees are also not spared, in the year 2006 the employee also had to pay around $ 3,000
more in their contribution to employer's sponsored health insurance plan in comparison to the
previous year, 2005. Rate hikes have been in existence since the "Florida Health Insurance" plan
started. In covering an entire family of four, a person will experience an increase in premium rate
at every annual renewal. If they would have kept the record of their health insurance premium
payments they will find that they are now paying around $ 1,100 more than they paid in the year
2000 for the same coverage and with the same company. The same item was found by the Health
Research Educational Trust and the Kaiser Family Foundation in their survey report of the year
2000. They found out that the premiums of health insurance that is sponsored by the employer
increases by around 4 times than the employee's salary. This report also stated that since 2000
the contribution of employees in group health insurance sponsored by employer was increased by
more than 143 percent.

One business man predicts that if nothing is done and the Health insurance premiums keep
increasing that in the year 2008, the amount of health premium contribution to employer will
surpass their profit. Professionals within and outside the field of Florida health insurance, think that
the reason for increase in Florida health insurance premium rates are due to many factors, such
as high administration expenditure, inflation, poor or bad management, increase in the cost of
medical care, waste etc.

Florida health insurance rate hikes affect whom?

Rising rates of Florida health insurance generally affects most of the Floridians who live in our
beautiful state. The highest affected individudals are the minimum wage and low wage workers.
Recent drops in the renewal of health insurance are mostly from this low income group. They just
can't afford the high premiums of Florida health insurance. They are in the situation where they
can not afford the medical care and they can not afford the medical insurance premiums that are
assosiated with adequate coverage. Almost half of all Americans are of the opinion that they are
more worried about the high health insurance rate and high cost of health care, over any other bill
they have on a monthly basis. A survey also finds that around 42% of Americans can not afford
the high cost of health care services. There is one very interesting study conducted by Harvard
University researchers. They found out that 68% of people who filed bankruptcy covered
themselves and their family by health insurance. Average out-of-pocket deductibles for people
filed bankruptcy were around $ 12,000 per year. They also found some co-relation between
medical expenditure and bankruptcy. A national survey also reports that main reason for people
not to take health insurance is the high premium rate of health insurance.

How to reduce Florida's high health insurance cost? Nobody knows for sure. There are different
opinions and experts are not agreeing with each other. Health professionals believe that if we can
raise the number of healthy people by improving the lifestyle and regular exercise, good diets etc.
than naturally they will need less medical care services which decreases the demands of health
care and hence the cost.( This year in Florida the smoking rate has increased by 21.7 percent)
One Floridian sarcastically suggested that there are 'highs' and 'lows' in health care that are
needed to reversed. That the state of Florida is to 'high' in cost of medical care compare to other
States and 'low' in the quality of health care.

Florida Health insurance rate hike has attracted many frauds. These frauds float many bogus
insurance companies and offer cheap health insurance rate which attract many people to them.
These companies usually through assosiations that are based in other states.

Meanwhile reputable Florida health insurance companies provide different types of health
insurance like employer sponsored group health insurance, small business health insurance,
individual health insurance etc. to vast number of employees and their families. Still there are
many people in Florida that lack any health coverage. Today the employer also has found it
challenging to decide how to offer employer sponsored group health insurance to their employees,
so that both of them arrive at some point of agreement.

For Floridians it is very important to shop around for a quality health insurance program that
doesn't break the bank.




You need to find an agent or web portal like Florida Health Insurance Web,
http://healthinsurancenerd.com/ar/health-insurance-rates.php that offers a variety of products.
There you will most likely be able to get quotes, compare plans, and apply online.

Florida Health Insurance Consultants can help you!

Morgan Moran




Article Source:
http://healthinsurancenerd.com/ar/health-insurance-rates.php




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For more information on Health Insurance Rates please check out;
http://healthinsurancenerd.com/ar/health-insurance-rates.php

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