Today’s News: Health Insurance Prices Skyrocket, Auto Insurance Costs Increase and 2010 Life Insurance Outlook Stable
June 25, 2010 • Insurance Advice • Comments • • Tags: Auto Insurance, Auto Insurance Costs, Insurance Costs, Outlook
A new report has found that health insurance costs have recently skyrocketed for individual buyers while auto insurance costs have also increased significantly. Also, Moody’s reports that the outlook for life insurance looks stable for the rest of 2010.
Health Insurance Prices Skyrocket
Health insurance costs have recently increased by an average of 20 percent for individual buyers, says a report released on Monday by the nonprofit group, Kaiser Family Foundation. Currently, the average annual deductible alone for an individual plan customer is $2,438 – four times the average deductible of a person under an employer plan.
According to the report, about 14 million Americans under the age of 65 buy their own individual health plans instead of purchasing them through employers. Of