I was having dinner with a local business owner the other evening and he told me what his health insurance premiums were increasing by for the next coverage year. When he told me, I almost fell off my chair. He was told that his premiums were increasing by 50%. FIFTY PERCENT!! He was told that his premiums would not have to rise at all should he find another option more desirable. He said, of course I am interested, sign me up. He was then informed that under the new option his and his employees’ deductible would increase to (are you sitting down) $10,000. TEN THOUSAND DOLLARS!! He then tried to shop around to the two other health insurers available in our area only to be quoted higher amounts.
I wonder where the money is going because it sure isn't coming to hospitals and physicians. We are given rate increases in the plus or minus 2% arena, yet blood, blood products, drugs, supplies, food, purchased services and the list goes on are all demanding higher price increases to keep up with inflation. As we work to get cost out of the system, a lot of others in the health care industrial complex aren't. By the way, my small business friend still doesn't know what he is going to do for health insurance coverage for himself and his employees.