For most of us, the increase in insurance premiums has taken a major hit on our monthly budget. Trying to navigate the ever changing insurance marketplace to find the policy that works best for you and your budget can be overwhelming. Unfortunately, the increases will impact us yet again for the 2017 year for those of us that carry Blue Cross Blue Shield policies. In an article posted by the Birmingham Business Journal, “Blue Cross Plans Premiums Hikes for ACA Plans”, Ty West outlines the specific details of the rise in premiums for individuals and employers in the ACA marketplace. A staggering proposed increase of premiums, ranging from 23.4 percent to 41.5 percent for individuals, is a tough field to navigate. Fortunately, according to Blue Cross, over 50 percent of the individual plan participants have the ability to lower their premiums by taking advantage of the tax credit.
With the uncertainty of the increase in insurance premiums (and other life events), it is times like this you want to make sure you’ve got a solid budget in place. Knowing what you do spend on a monthly basis will hopefully make the rise in premiums less complicated for you to handle.
Click Here for Full Article to read more information about the proposed price increase for Blue Cross health insurance premiums.
Summary By: Holly Criss