Study: Some Calif. Health Premiums To Rise
Patrick Johnston, president of the California Association of Health Plans, said insurers are supporting the implementation of health changes, but the report underscores a concern about cost increases.
"All these expansions add to the already increasing cost of care â¿¿ costs that have outpaced inflation as obesity, chronic conditions and many other factors have driven up medical expenditures," Johnston said in a statement.
The study also showed that younger adults will experience higher rate increases while older adults could see decreases. Exchange officials said increases could be offset by federal subsidies because younger people tend to earn less and people under 30 can select a catastrophic plan for less money.
Adults under 26 can also remain covered under their parent's health plans, which was one of the provisions that has already gone into effect.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts