Group health costs in California contiue to rise and making it more difficult for companies and individuals to afford. Many say the costs are even increasing faster than most survey's indicate. Thus, many businesses cannot afford to pay the higher costs and are passing these expenses down to the employee.
The group plans also may be more expensive than the individual health plan counterpart. Group health insurance plans are based on the group, and if the group is not healthy, the costs could be quite a bit more expensive. Not all California companies can afford these increasing costs and are having their employees pay more.
The smaller companies are incurring faster rate increasing than the other costs for the company, where as larger companies have an easier time dealing with these increased costs with their insurers. Some individuals are finding they may save money if they look into individual plans rather than their companies group health plan.
Individuals with pre-existing conditions need to make sure they are still covered as most group plans will cover those pre-existing conditions. We, at The Brighton Financial , suggest talking to your company to find out your particular situation and then get a quote from us - here - to compare your options.