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Why Does My Health Insurance Keep Going Up?
By Scott Lucas

Why Does My Health Insurance Keep Going Up?
By Scott Lucas
Health Insurance companies sell individual plans in groups of people that choose the same kind of benefits.

A plan has a pool of people in it, as the plan gains more people and the people in the plan pay there premium each month. The plan will start to receive claims for the services rendered to people in the plan.

All the money that comes in to a plan goes in a pot that the insurance company has set up to pay for all the claims that are sent to them from the people in the plan.

What this means is that as long as there is more money coming in, then going out your price really shouldn’t go up. But when more is going out, and this is the case all the time the insurance company raises the price.

The insurance companies try to keep the plans pure with only healthy people, thru underwriting each person who tries to join the plan. They look at the person’s medical history and this works most of the time.

With most plans about 20% of the people in a plan use it; the other 80% just pay and hope they don’t have too.

When the claims that come in and need to be paid, out weigh the money coming in to the insurance company they have to raise the price.

This then causes a new problem for the insurance company.

When they raise the price the healthy people move to a new plan that cost less. That leaves all the people that are making claims, because those people now have a preexisting condition and can not go to another plan. So the insurance company raises the price again and again and again, trying to pay all the claims that keep coming in from the 20% that caused

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