Health costs, both group and individual, in California continue to rise making it difficult to afford health insurance today. Some businesses have decided that they cannot afford these rising costs and are passing the costs to the employee. Most agree the projected increase in costs is around 4-7% in 2021.
Another factor in driving up costs are Covid related. There are now many new specialty drugs and costs related to employee benefits that are increasing the premiums. Manu insurers also expect an increase in deferred care, Covid related treatment and testing and other vaccination costs.
Some individuals are finding they may save money if they investigate 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.
At John Shafer Insurance Services, we can help you navigate the options between what your company may offer and what savings there may be on individual plans. Give us a call today at 949-760-7150to see if we can help answer any questions you may have.