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(Medical-NewsWire.com, August 16, 2012 ) San Francisco, CA -- With the annual health insurance policies renewal date coming up, local businesses and individuals will be seeing their policies increase by a modest sum of 2.1 percent, hailed to be much better than the previous 5.5 percent raise a year back.
Oct 1st, later on this year, will have consumers seeing the yearly differential, but this time, the conditions are much different as to previously when health insurance was still big for small business owners and such.
Location, type of business, age of the workforce and sector will obviously play major roles in determining the exact amount employers can expect to spend on health insurance for the company. With thousands of consumers, health insurance is continuing to profit by the small and individually unnoticeable additions.
“This is a very slight increase,” said Barbara Anthony, the state undersecretary of consumer affairs and business regulation. “If you look at the data since 2010, there’s been a continued moderation in average rate increases. Compared to where we were two years ago when average base rate increases were in the teens, they’re now in the low single digits.”
One of the reasons for the minor increase is believed to be the bill signed into law by Governor of the State Deval Patrick. It clearly will not allow medical care spending to surpass the economy growth rate of Massachusetts well through 2017. Another important part of the bill was forcing hospitals and doctors to treat and bill the patient for an overall care program instead of various tests and procedures, all requiring separate payments.
According to Boston.com, the demanded increases by a number of insurance giants like Blue Cross Blue Shield, the largest health insurer of the state at the moment, wanted at least an increase of 3 percent. Other firms in the state like Harvard Pilgrim and Tufts, are also believed to have been around that 3 percent region as well.
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Source: EmailWire.Com 
Source: EmailWire.com
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