|
|
|
NetQuote works with
the nations top insurers.
“I am saving enough money to more easily pay student loans on a teacher's salary. Thanks NetQuote.”
– Claudia S., Indiana |
|
|
Study: 20 states' premium costs above average, reform suggested
A new survey by The Commonwealth Fund shows that families in 20 states had higher than average premium payments for insurance coverage in 2008 and suggests that potential reforms could reduce costs by up to 1.5 percent per year in the next decade.
A new survey by The Commonwealth Fund shows that families in 20 states had higher than average premium payments for insurance coverage in 2008 and suggests that potential reforms could reduce costs by up to 1.5 percent per year in the next decade.
The study, which surveyed premium and income trends among the populace under the age of 65 in each state, found that the average premium paid for family coverage in 2008 was $12,298. When detailed further, the study found that 25 states' premium costs were below the average - with Idaho holding the lowest cost at just under $11,000 - while 20 states had costs above the average - with Massachusetts netting the highest average costs at $13,788 according to Boston.com.
The report also noted that employer-sponsored plans had risen 33 percent on average from 2003 to 2008 and that the average payments could potentially double to over $23,000 by 2020.
However, the report also suggested that national reforms being discussed by the government that promote "payment incentives that reward high-value care, and other health system reforms to bring about more patient-centered, coordinated care" could reverse the trend and cut national premium costs by one to one-and-a-half percentage point-per-year for the next decade.
Reforms, the survey added, could cut rates in the states with the lowest premiums up to $1,522 by 2015 and could net savings for the states with the highest premium costs of up to $4,114 by 2020.
"Our analysis suggests that in every state - regardless of size or geographic region - insured people stand to gain when reform is truly in the public interest," the report states.
Learn how easy and convenient shopping for health insurance can be. Get your free health insurance quotes today!
Posted: August 24, 2009
Related Health Insurance Articles
- Study: Health care premiums may double by 2020 August 21, 2009
- A decrease in new doctors could lead to increased health insurance rates down the road August 20, 2009
- Poll: Americans not confident in health care reform proposals August 19, 2009
- If traveling abroad, remember to check with insurance providers to ensure your coverage August 17, 2009
- Reports: Growth in insurance premiums outpacing paycheck growth in four states August 13, 2009
- Health insurance terms see rise in interest on web amid recession, health care debate August 12, 2009
- Unnecessary costs contribute to price of health insurance August 11, 2009
- Should unhealthy people pay more for benefits? August 10, 2009
- Voluntary insurance benefits make it easier to cover a workforce diverse in age August 7, 2009
- How to properly adjust insurance benefits with a baby on the way August 4, 2009
- Government: Healthy living can hold down health insurance costs July 30, 2009
|
|
