I know many people have been asking me how is this new health care bill going to affect my health insurance?  I do not think we have a full picture of all the effect of this bill on health insurance.  The first big milestone is the allowing all children to obtain medical coverage without any preexisting conditions starting in September this year.  To prepare for this we have some early warning that most health insurance companies are preparing for rate increases scheduled for July, these are to be 25% plus, some even at 50% plus to the premiums we are at today. They are planning to remove all rate guarantee protection at that time as well.  What this means to you, is that health insurance costs will go up and they can fluctuate as they need to support the claims vs premiums.  If you have not locked in your rate protection before July you are in for a tough ride with a company that will honor rate guarantees prior to July 1st.  This would be something to get from your company to know if you are protected.  I know of only one company that will honor the rate protection for up to 36-months and they have it in writing.

I would recommend that everyone who is wondering if they should have a review of their current coverage, now is the time to take a look at that and ensure that we get a plan in place to control your costs through the next three years.  I believe we will see things get much worse before they stabilize.  If you just let it ride with the hopes of your premium staying controlled, then you may find your new premium unaffordable.  Talk to us to get your rate controlled with a 36-month lock that they will honor through all the changes.  Do it sooner rather than later to not miss locking in your rate. Be prepared and control your premiums, before you find things out of control.  Talk to us soon.