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Here Is the Difference This Year Between Group and Individual Insurance
The health care reform bill does not take effect until 2014.At that time, insurers will have to justify rate hikes.
This story shows, once again, the benefits of group insurance.
“People who buy health insurance on their own experienced, on average, a 20% increase in the cost of their premiums over the past year, according to a survey by the nonprofit Kaiser Family Foundation.
“Notice of an impending increase — received by 77% of the 1,000 people surveyed — led some to cancel their policy and buy a new, cheaper one, so the overall premium increase for those buying individual insurance was about 13%. (Emphasis added)
“By comparison, people who buy insurance through their employer on the group market saw an increase of only about 5%.” ( Emphasis added)
Source: Medpage Today, June 21, 2010
