I know this is a short post, but I just wanted to update everyone on a trend I’m looking at today.

As you know, when you have an independent insurance agent, you have access to all the health insurance companies that agent represents. And, as you know, this is the time of year when a lot of our policies are renewing, which also means a lot of our plans are seeing rate adjustments.

Unfortunately, the majority of the time those rate adjustments go upwards rather than downwards. It looks like this year won’t be any exception, especially with the way our economy is trending. Today, I’ve talked with several people who are reporting rate increases from Golden Rule and Blue Cross Blue Shield of Georgia, as well as less severe rate increases with Imerica and Assurant. My own research has borne this out — it looks like these companies are increasing rates across the board.

Keep in mind, this isn’t based on any official information from the insurance companies. This is just something I’m watching on my end, and I’m personally seeing a lot of higher premiums for the same coverage.

That being said, major kudos to Humana. From what I can tell, Humana’s rates are holding steady with no sacrifice of benefits. I’m keeping an eye on this, and I’m going to spend some time this week calling current clients to make sure that they’re still satisfied with their coverage.

Rate hikes, especially when they come out of nowhere, can really disrupt your monthly budget. That’s why I always, always recommend a twelve-month rate guarantee to my new clients. Locking your rates in for the first year adds an element of predictability to your plan, which is a great deal for a product that exists to provide asset protection.

If you want to evaluate your current plan against the shifting market to make sure that you’re still getting the best rate possible, check out our free Georgia insurance quote page to get your free, personalized, no-stone-unturned quote. You never know how much you could be saving until you get your agent to research the market for you!

No related posts.

Related posts brought to you by Yet Another Related Posts Plugin.