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Monday, August 18, 2008  

Individual and Group Health Insurance Costs Up 100% Since 1996

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We hear a lot about how medical coverage prices have gone up in recent years, but now the Agency for Healthcare Research and Quality can definitively tell us that group health insurance premiums have gone up by more than 100% since 1996.

Yes, you can forget about judging inflation vs rising costs vs lowered economic stability; it's a simple and depressing statistic proving that group health insurance rates have gone up way too far.

According to the article at the TriState Observer, the AHRQ reports that employers paid for most of the increases. Their share of group health insurance premiums when from $3,679 to $8,491 a year for family coverage and from $1,650 to $3,330 a year for single coverage.

Employees didn't get away scott-free, however. Their share went up significantly as well: from $1,275 to $2,890 a year for family coverage, and from $342 to $788 a year for single coverage.

Whether it's group health insurance, family coverage, or individual insurance the best thing you can do to find more affordable coverage is to shop around aggressively, compare rates and plans, and know exactly what you need and can afford.

And do your best not to be 100% frustrated with today's health care market.

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