Uncertainty Surrounding Healthcare Reform Is Leaving Consumers in a Tough Spot

As the political landscapes shifts and the ongoing debate around healthcare reform rages on, the uncertainty of the path ahead is going to hit consumer’s right where it hurts, the wallet. Like all insurance products, health insurance is built around the idea of collecting enough in premium dollars to pay for future expenses.

The challenge currently facing insurance carriers is that they are required to set prices for their benefit offerings in 2018, yet have no roadmap of what they will be mandated to cover within those benefit offerings. This lack of clarity is forcing insurance carriers to be conservative, risk averse and generally hedge their bets. For the consumer, that equals higher premiums.

The small group (employers with less than 50 employees) and individual insurance markets are going to be hit the hardest in 2018 by increased premiums.  As these insurance carriers hedge against the uncertainty being created on a national level by ensuring they collect enough in premiums, the net effect is overpricing and higher than normal increases. Don’t be surprised to see premium increases a bit higher than in years past.

The success of our Trusts is built on aggregating all members together and using the collective size and strength to realize savings that any one member would be unable to obtain on their own. This will prove ever truer over the coming months as the continued uncertainty forces increased costs and premiums. Call our team today to take advantage of this great member benefit.

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