Health Insurance Pricing a Conundrum

Since health care reform “is here” and more changes will be coming, one of the biggest questions people are asking relates to the price for their health insurance plans. That seems to be up in the air, as one side of the great debate says the prices will be lower because the competition will be stiff. If insurance companies want more business, they will have to price their policies cheaply to attract customers.

On the other side of the debate are those that say the prices will go up because the insurance companies will want to pass on their “losses” to the consumer. What does that mean? It means with health insurance companies taking a hit in the medical loss ratio of 80%, that health insurance companies may raise their prices to hedge their bottom line.

The market is still in flux right now and no one is sure what will happen by the end of the year, but one thing is for sure, it’s going to be interesting to see how the pricing structure shakes out.

To learn more and get a health insurance quote, visit https://www.benepath.com