What Is Health Really All About?

What Is Health Really All About?

Florida insurance premiums have touched new heights! Every Floridian has the public knowledge that the majority annual insurance contracts will endure a rate increase at the top of the year. This trend isn't new and will be expected. whenever this issue pops up it seems as if the blame game starts. Floridians blame insurance companies; insurance companies blame Hospitals, Doctors and other medical aid providers, medical aid providers blame inflation and politicians, well, we actually do not know what they are doing to assist the difficulty ... nobody seems to have an interest find the important explanation for the insurance premium rate increase. most people , self employed, and little business owners have taken Florida insurance Rate Hikes because the inevitable evil.

Hard Facts

What are various reports telling us? Why do insurance premium have annual rate increases?

Rate of inflation and heath premium rate increase.

America's health expenditure within the year 2004 has increased dramatically, it's increased quite three time the rate of inflation . during this year the rate of inflation was around 2.5% while the national health expenses were around 7.9%. The employer insurance or group insurance premium had increased approximately 7.8% within the year 2006, which is nearly double the speed of inflation. In short, last year in 2006, the annual premiums of group health plan sponsored by an employer was around $4,250 for one premium plan, while the typical family premium was around $ 11,250 per annum . this means that within the year 2006 the employer sponsored insurance premium increased 7.7 percent. Taking the most important hit were small businesses that had 0-24 employees. There insurance premiums increased by nearly 10.4%

Employees also are not spared, within the year 2006 the worker also had to pay around $ 3,000 more in their contribution to employer's sponsored insurance plan as compared to the previous year, 2005. Rate hikes are alive since the "Florida Health Insurance" plan started. In covering a whole family of 4 , an individual will experience a rise in premium rate at every annual renewal. If they might have kept the record of their insurance premium payments they're going to find that they're now paying around $ 1,100 quite they paid within the year 2000 for an equivalent coverage and with an equivalent company. an equivalent item was found by the Health Research Educational Trust and therefore the Kaiser Family Foundation in their survey report of the year 2000. They acknowledged that the premiums of insurance that's sponsored by the employer increases by around 4 times than the employee's salary. This report also stated that since 2000 the contribution of employees in group insurance sponsored by employer was increased by quite 143 percent.