LOS ANGELES, Aug. 2, 2018 /PRNewswire/ -- Recently, Covered California announced an 8.7% weighted average rate change for the 2019 plan year. The proposed rates were negotiated with Covered California and filed with state regulators are subject to final review. The final rates will be published in time for the start of the open enrollment period in California on October 15.
In several California counties the average weight increase is in the double-digits with Monterey, San Benito and Santa Cruz counties being hit the hardest with an average increase of 16.0%.
Half of Californians that buy their own individual health insurance pay the full price for health insurance because their household income disqualifies them.
These people are not considered to be high income. They are primarily the working middle class and are struggling to afford healthcare since the Affordable Care Act was implemented. The average annual income for consumers that pay full price and buy their coverage directly from the insurance carrier is approximately $75,000 compared to a median overall income of $66,000 regardless of where coverage is purchased.
Because of this there has been a surge of enrollments in Healthsharing plans, also known as Healthcare Sharing Ministries.
In the last six years, HealthSharing has evolved and with one HealthSharing plan, membership is open to people of all faiths, religions and beliefs.
One HealthSharing plan in particular operates similar to what one would expect of insurance company, such as having a network to pay providers directly, more like insurance than the others, so monthly contributions are paid to an escrow account and the plan pays the providers directly so the member is not having to file a claim or seek reimbursement.
HealthSharing is not for everyone but may be the perfect solution for many.
A free report, 7 Ways HealthSharing May be Better Than Insurance, is available at Healthsharing.com for consumers and insurance agents who want to explore HealthSharing as an affordable healthcare solution.
Learn more about HealthSharing at https://www.healthsharing.com/
Jim Van Wyck