Monday, August 9, 2010

New health law may bring pricier premiums

Employers and consumers sorting through their health insurance options may see a bump in their rates next year to account for the potential impact of some of the early elements of the federal health overhaul law, according to some health experts.

Jeff Sher, an independent health insurance agent and consultant in San Francisco, said he's anticipating employee coverage at mid-size companies to go up 13 percent to 15 percent. "Then we're supposed to tack on several percentage points for health reform," he said.

August is a key month for employers to start making decisions about their health benefits because most open-enrollment periods, during which employees select their health insurance plans, begin in the fall for coverage starting Jan. 1, 2011.

While most major pieces of the new health law don't go into effect until 2014, some reforms affecting health insurance carriers take effect this year.

These include provisions that require health plans to cover adult children until age 26, extend coverage to children with pre-existing conditions, end maximum lifetime spending limits and end the practice of retroactively canceling a member's coverage for any reason other than fraud.


Source and More:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/08/08/BAR91EPHDJ.DTL

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