The Health Insurance Market & New Federal Law

As an independent agency, sometimes we don’t tell our clients what we sell. From a product standpoint, we handle all lines of insurance both personal and commercial. This ranges from all of the property and casualty lines, to life and health insurance.

We represent some of the most prestigious insurers in the market, and if your needs go beyond the carriers we represent, we will look far and wide on your behalf to find the right insurance market for you. Our job is to protect your assets, whether you are a business or personal client. We find you the best protection for a competitive and fair price. We are committed to that.

Many are asking me what is going on with the health insurance market and how the new federal law will affect the marketplace. In the short term, you will see rates go up (how unusual) as insurers try to understand the future in the industry for them. The government has increased taxes to health insurers, and that cost will ultimately be passed on to their customers.

Most of the benefits of the legislation don’t take effect until 2013. Thus, if you are uninsured, you will not be Bob’s Blog required to have insurance, nor will you receive subsidies until that time. Long term, costs will continue to rise, until some type of cost containment is addressed.

Unfortunately, cost containment was not a part of this legislation. This legislation was about getting the uninsured covered, and about redistributing wealth. If and when cost containment is addressed is anyone’s guess, but if it is addressed as other nations have addressed it, it will mean one thing...rationing, especially for seniors.

In the meantime, we will provide an excellent market for your health insurance needs, both for regular medical insurance and for Medicare supplements and part D Medicare. Give us a call. Enough said.

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