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Health Insurance Costs Forecasted to Rise Again In 2017

Years ago there was a movie called “The Neverending Story”. The movie begins with a grandfather reading a fairytale to his Grandson.  The main character is another child that rides a crazy looking dog/ferret thing and saves the world.  The twist comes when the boy and the Grandfather actually become part of the story.

The “Neverending Story” we are talking about today is the rising costs of health insurance.  The bad part is that is not a story and it is all too real.  A recent article on pbs.org cited a Kaiser study which has projected another double digit growth for 2017…   Medical Insurance Costs to Increase in 2017

“In Kaiser’s study, premiums for the lowest-cost silver plan are projected to rise in all but two of the 14 markets checked. In Portland, Oregon, premiums for the lowest-cost health insurance plans under the Affordable Care Act may increase next year by an average of 26 percent.”

These huge increases cannot be sustained long term.  We heard this year where drug companies are attempting and succeeding in raising prices of their drugs.  Taking advantage of the current system to line their pockets under the current system.  Who pays for this?  We and everyone else paying huge premiums and getting little in return.

There is hope.  If you work for a company that provides a group health insurance program, Spinnaker Financial can potentially reduce the cost of your company’s group health insurance by over double digits.  Have your HR contact us today for a review of your current plan.  We are all in this together.

To read Phil Galewitz’s full article click below


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