Private health insurance. Is there any limit to how high they can raise your monthly premium if you get sick?

Question

I was thinking about getting private health insurance but I was reading an article on dividedwefail.org about a couple who got sick and their monthly premiums rose to $1100 a month. so is their any limit to how high they can raise premiums. If I got really sick could they just raise my premiums so high till I can't afford it and then drop insurance all together so they don't have to pay anything.

Answer 1

No there is no limit to the amount they can raise your rates.  Fortunately in most states they can't raise your rates without raising everyone else's rates.  You should check with your state's department of insurance to see if there is a Health Insurance Risk Pool and then get the rates for that plan.

Answer 2

Raising premium for being sick ....?

But, that was the reason of taking a Health Policy ...  !!

These people do / may do something like that ...?

I must read to know ... but unbelievable ... unacceptable ... !! anybody may elaborate here ...?

Answer 3

No.  But they don't rate it like car insurance, based on your claims.  Once you have a health insurance policy, as long as you keep paying the bill and keep the policy and don't change coverage, you'll pay the same premium as everyone else in your age category.  So if, say, you get something horrible and have $500,000 of bills, your rates don't go up because of the illness.  There aren't surcharges or rate increases based on usage.

That couple who got sick, that's not what made their premiums rise to $1100 a month.  They changed plans or something.

And, just for the record, $1200 a month is about average for a FAMILY health insurance plan.  Usually an employer picks up a big chunk of the tab for it, so you don't usually pay that much unlessl you're self employed.

Answer 4

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Answer 5

Looks like you figured it out correctly. They can't change the price for the length of the contract (usually a year) and many have a provision that while you are sick they will suspend your need to make premium payments if you are unable to work.