Why are my health insurance premiums going up?

February 3, 2016

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Lead Copywriter



There are a few reasons as to why health insurance premiums (i.e. your monthly payment) are going up.

1.) Rates are determined by age, zip code and tobacco usage, and since we all age every year, our premiums will go up every year too. Boo.

2.) Since the Affordable Care Act made it illegal for carriers to deny people coverage due to preexisting conditions, that means all insurance claims are now evenly spread across all members.

3.) The cost of healthcare is rising. Since insurance carriers pay for the majority of your healthcare costs, carriers have to raise their premiums as well.

If you’re premiums are getting to high for you, there are a few things you can do:
-See if you qualify for subsidies on HealthCare.gov
-Call your broker or the carrier and see if there is a cheaper plan; just know that a cheaper plan typically means it covers less of your medical expenses.