Archive for June, 2009
Why Does My Health Insurance Premiums Keep Increasing and What Can I Do?
Posted by Todd Fries | Filed under Health Insurance
Health insurance premiums rise primarily due to four reasons:
1. Advances in medical technology means higher claims costs.
2. Price inflation for medical services is greater and exceeds inflation in other sectors of the economy.
3. Health Insurance Costs shift from the uninsured and those receiving Medicare and Medicaid over to the private sector
4. Consumer lifestyles, such as smoking, physical inactivity, obesity and heart disease.
So What Can I Do?
As consumers, we really have no control over the first three, but we can take control of our own lives by eating healthier, exercising, and not smoking. If we all make a conscious effort to live a healthier lifestyle, it will not only benefit us individually, but collectively, as a society. We will need less medical care and eventually we can start to stabilize the cost of Health Insurance because people will have fewer claims.
If you live in California, don’t hesitate to contact me to review your current plan. We can make sure you’re in the most cost effective health plan that meets your needs. If you’re currently uninsured, it can be a lot less expensive than you think! I’ve worked with students and freelancers who end up paying less than $150/month! Especially if you’re willing to consider a higher deductible.
You may even be eligible for an HSA (Health Savings Account) which offers some great tax benefits if you’re self-employed and want to open an additional IRA.
Call me anytime to discuss.
(323) 464-TODD (8633)
toddshealthinsurance@gmail.com
