Georgia Health Insurance Costs Rise
September 19th, 2011 Posted in GA Health Insurance Exchange, Health InsuranceA recent survey from employee benefits Company Towers Watson echos what we have been seeing here with Atlanta health insurance premium costs. With 2012 open enrollment around the corner employees can expect to pay more for their group health insurance – via premium increases and changes in deductibles, copays and coinsurance.
The 2011 Towers Watson Health Care Trend Survey, released in late August, found that the annual cost of medical and pharmacy coverage would increase to $11,204 per employee for active coverage in 2012 (an increase of 5.9% versus 7.6% for 2011). According to the survey, roughly two-thirds of employers (66%) will increase employees’ share-of-premium contributions for single-only coverage for 2012, and 73% will increase them for dependent coverage.
The promise of lower health insurance premiums due to a Georgia health insurance exchange is in question. Aside from the fact the law necessary to govern such an entity has yet to be enacted, recent news articles indicate that consumer level premium savings just aren’t there.
Expect plenty of volatility in the health insurance marketplace over the next several years. As a leading health insurance broker in Atlanta know that you can call on us to develop a proactive strategy to deal with these important changes.
