New health policies will expose many to higher premiums, more risk : News

New health policies will expose many to higher premiums, more risk : News

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Thanks to government subsidies, many St. Louis-area residents will be able to afford health insurance for the first time, beginning in 2014. But the insurance they’ll be able to buy will offer a limited range of options.

This trend toward less value is not only happening on the new health insurance marketplaces, also known as health exchanges, in Missouri, Illinois and other states, but also on the “open market,” where health policies have traditionally been sold.

In 2014, experts say, health care consumers are likely to face higher monthly premiums and more financial risk as deductibles and out-of-pocket limits rise.

The sticker shock will be greatest for those who already have individual insurance policies and don’t qualify for subsidies.

Compared to the health plans available now, many consumers also will be paying more next year for coverage that offers fewer choices of physicians and hospitals.

“Deductibles are going up. Premiums are going up. (Provider) networks are getting tighter,” said Vincent Blair, a health insurance broker in Webster Groves.\

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note:  forced retired from canco and were I working, I would strike of state of my insurance.