Why Your Health Insurance Rates Probably Rose in 2016

Employee benefits consultant broker New Jersey

As people looked through bank records this year to do their taxes they probably saw health insurance premiums jump up from 2015 to 2016. But it’s a chaotic national realization, as some people saw their premiums rise by more than 40 percent, while others saw their rates actually decrease.

The averages pieced together by industry experts vary, but it looks like premiums rose by about 12-13 percent on average in 2016. A little context: from 1999-2009, health insurance premiums rose by 131%, according to data collected by the Kaiser Family Foundation. So 12-13% is actually comparable to years before the Affordable Care Act. But averages don’t do any favors for these states with rate hikes above 20%.

 

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