Recently I was interviewed by Indiana Public Media about proposed marketplace spikes. In the article it mentions that four out of the six insurance companies planning to offer coverage to Hoosiers through the federal healthcare exchange next year are proposing double-digit rate increases for individual premiums, according to proposals filed with the Indiana Department of Insurance.
Why is this?
In my opinion, insurance companies still haven’t been able to balance the federal insurance mandate with the fact they can’t deny people insurance coverage in addition to the fact that insurance companies are just now learning how to navigate government programs. This has given insurance industries just a few years to bring premiums to what they should be based on claims made.
Want to learn more about the spikes? Read more here.