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November 2015  Volume 8, Number 11        

This Just In ...

"Deductible creep” is making healthcare less affordable. The good news is that higher deductibles help control health insurance costs. Premiums for both single and family coverage under an employer-sponsored plan increased only 4 percent this year, according to the Kaiser Family Foundation. Average premiums for individual plans in the health insurance exchanges did not increase at all from 2014 to 2015, although they increased significantly in some states and declined in others.

The bad news is that over the past five years, health deductible costs have risen more than six times faster than the average worker’s wages. According to Kaiser, the average worker with individual coverage under an employer’s plan had a deductible of $900 in 2010. By 2015, that increased to $1,300. Employees of small businesses paid even more, at $1,800 this year, with 20 percent having a deducible of $2,000 or more.

Supplemental insurance policies, such as hospital indemnity coverage, critical illness coverage and accident insurance, can help you mitigate the effects of higher deductibles. These policies pay benefits directly to the insured when you have a covered illness or accident to use however you choose—including paying deductibles. For more information, please contact us.

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In this issue:

This Just In...

Implants and Bridges — and How Dental Insurance Can Help

See Everything – Considerations When Purchasing Vision Insurance

When Social Security Won’t Help

Why Smart People Don’t Rely on SSDI


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