Asking the Wrong Questions: Conclusion
In Part 1 , we broached the subject of rate increases. And in Part 2 , we looked at the questions we need to ask about why they went up. Now let�s talk about what we can do about it. Well, the first, obvious move is to contact your agent to see what other carriers are available in your area, and how they stack up � both in financial status and rates � to your current carrier. Of course, ones current health status (as well as those of covered family members) will play a role in this process. And remember, just because the new carrier�s rates are better this year, don�t forget that they�re subject to the same issues as your current insurer. That is, their rates are going to go up next year, too. Doesn�t mean that you shouldn�t make the switch, but you need to know that it�s a temporary fix. Another item to discuss is what, if any, different deductible and/or co-insurance levels will do to help mitigate the rate increase. This is especially relevant when discussing an HSA, because if on...