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Delawareans Face Substantial Health Insurance Increases

Posted In Health Care, Health Exchange

96226495-e1382074913159Health insurance premiums are showing sharp increases across the country, with Delaware leading the way.  An April survey by Morgan Stanley of brokers who sell coverage in the individual and small group market shows the largest acceleration in small and individual group rates over the 12 prior quarterly periods in which the survey was conducted.  The average increases are in excess of 11% in the small group market and 12% in the individual market.  Delaware, unfortunately, had the highest increase of any state, with premiums in the individual insurance market (those sold direct to consumers) increasing by 100%.  In neighboring Pennsylvania, the rate of increase was 28% - still high, but nowhere near what Delawareans face.  Other states with large increases were: New Hampshire 90%; Indiana 54%; California 53%; Connecticut 45%; Michigan 36%; Florida 37%; Georgia 29%; and Kentucky 29%,

Author:  John H. Newcomer, Jr. chairs the Real Estate Practice at Morris James LLP and is a member of its Healthcare Industry Team.

 

Health Exchange Seminar Now Available as a Webinar this Wednesday, October 9th

HCEmailInviteMorris James' Healthcare Industry Team will be presenting a webinar on health exchange, HIPAA, and general compliance issues and strategies for 2013-14 on October 9, 2013. Delaware employers with 50 or fewer employees will identify critical health exchange implementation and learn about other hot topics from presentations and discussions facilitated by Morris James' Healthcare Industry Team and the experienced insurance experts of Willis of Delaware, Inc. In a timely News Journal story that highlights Walgreens' recent move to send workers to a private health insurance exchange to buy their own plans, consulting firm and industry expert Accenture stated, "In five years, more than a quarter of the estimated 170 million people now covered by insurance through their employers will be getting their benefits this way."  Home Depot and Trader Joe's recently announced their move to switch part-time workers to health exchange coverage as well. More ›