A big change is coming to health care and it’s not for the better.
Health care premiums will increase significantly next year for many Americans. According to a report by PricewaterhouseCoopers, employers offering coverage will likely see a 9% cost increase, while employee costs may rise by double digits.
Customers can expect higher out-of-pocket costs and stricter policies for dependent coverage, among other changes.
There are several reasons for rising costs, all related to the economy. USA Today reports, “Costs will rise in part because workers worried about losing their jobs are using their health care more while they still have it,” and also from rising unemployment, which is “driving up medical costs.”
Unfortunately, even if the health care reform bill passes this year, it is unlikely to have any impact on costs for the next year. So in the meantime, here are three tips to get more bang for your buck next year since you’ll be spending more anyway.
1. Figure Out Which Plan Suits You Best
The New York Times reports more employers are pushing high-deductible coverage now because it moves more of the cost burden onto employees, reducing employer costs by as much as 20%. This plan certainly has its perks – it’s usually paired with a health savings account, which is a great way to prepare for retirement, and once you meet your deductible, you can be covered for up to 100% of your medical costs. But in the meantime, you pay more for your doctor’s visits. That may be ideal for the person who has a once-a-year checkup, but if you love to see your doctor, consider a different plan.