Can a health insurance company raise your premium whenever they want?

Question

Can a health insurance company raise your premium whenever they want?

Answer 1

No, they can only raise the premium for the entire class of insureds.  Example, they CAN raise the rates for class "s", which is all 30 - 34 year olds.   So, everyone who fits that class, will see their rates rise.

They cannot say, "oh, look, Joe Smith is putting in a ton of claims, lets charge him more."  It's not like car insurance, and you don't get surcharged when you file claims.

But as a rule, health insurance rates have gone up about 20% a year, for the past five or so years, or even higher.  That's because people are putting in more claims, not less, and Americans are fatter than ever, which increases claims, in general.

Answer 2

You may try to google it,here has some direct resource that might be helpful.http://health-insurance.expert-tip.info/...

Answer 3

~~Yes they can within your states regulation. They will change your group according to claims you have (it's hard to explain) and that will increase the rates. It really stinks how you have to pay a premium then when you use it, up go your rates. That's why insurance companies have it made!!!~~

Answer 4

Yes, they can, but the premium increase needs to be approved by your state's department of insurance.

Answer 5

In most states, yes.

Don

http://mtnhealthinsurance.com

Answer 6

pretty much yes....they'll go up when you have an age change and some policies will change the rates for the policies either annually or semi-annually.