Why did my Health Insurance Premium go up?
I didn’t change plans.
Every year health insurance premiums automatically go up in price.
Every. Single. Year.
So, even if you didn’t change plans, your premium is likely to go up. This happens upon renewal. Premiums go up as health care costs go up. Someone has to pay for it.
One of the main reasons premiums are consistently going up is because under Obamacare (The Affordable Care Act) insurers (meaning the insurance company that provides you with your health insurance plan) are required to cover high risk individuals, such as those with pre-existing conditions.
This post was written by Katharine Bristow, a Health Insurance Specialist.
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