Just got a notification in the mail about my insurance premium going up by 26 dollars a month (25%). I started paying for my own health insurance when I switched employers about 8 months ago. My health hasn't changed since then, my age hasn't changed, but it went up 25%? I thought that when you are first quoted a rate it was locked in for a certain period of time. Is there anything I can do to stop or at least slow this down? They gave me 2 months notice before the rate increase. Help!
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Some insurance companies have rate-guarantee policies that will lock in your original rate for a certain period of time, but many don't. Unfortunately, it is not terribly uncommon to be hit with a rate increase like this. You can be sure it wasn't anything personal – they probably raised rates across the board in your area. Since it sounds like you are paying for your own coverage (rather than getting it through an employer) you can take this as an opportunity to make sure you've still got the right health insurance plan and are getting the most for your health insurance dollars. Talk to a licensed agent or visit an online agency like eHealthInsurance.com (where I work) to review quotes from leading companies and see if there's another plan that might better match your needs and budget. If you want to talk with one of our licensed agents for personal advice, give us a call at 1-800-977-8860. Best, - Amir M, licensed agent
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