{"id":976,"date":"2016-11-18T22:37:36","date_gmt":"2016-11-18T22:37:36","guid":{"rendered":"http:\/\/blog.simplyinsured.com\/?page_id=976"},"modified":"2016-11-18T22:37:36","modified_gmt":"2016-11-18T22:37:36","slug":"20-increase-health-insurance-rates-predicted-people-40","status":"publish","type":"page","link":"https:\/\/www.simplyinsured.com\/advice\/20-increase-health-insurance-rates-predicted-people-40","title":{"rendered":"20% Increase in Health Insurance Rates Predicted for People Under 40"},"content":{"rendered":"

As January 1 and the Affordable Care Act (Obamacare) approaches, we\u2019re hearing the same question from small business owners: What\u2019s happening to our health insurance rates?<\/strong> Here\u2019s what to expect:<\/p>\n

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Employees Under 40 Face At 20%+ Increases in Health Insurance Costs<\/h2>\n

Prices from the Covered California exchange provide confirmation that health insurance premiums for younger employees will increase significantly in 2014. SimplyInsured<\/a> analysis shows small businesses will pay on average an extra $750 annually to insure younger workers, while employees over 40 will see smaller rate increases.<\/p>\n

\"Covered<\/p>\n

Small business health insurance premiums are determined by the employee\u2019s age. The analysis of current pricing vs the pricing on the Covered California exchange from top insurance carriers illustrate the differences in rate increases by age.<\/p>\n

Current Rates Vary Widely by Age<\/h2>\n

\"Current<\/p>\n

SimplyInsured examined the average premium for each of the major insurance carriers in California. The pricing data showed that younger employees pay significantly lower rates than the overall average, while older employers pay much higher rates than the overall average. Insurance carriers were found to have similar pricing levels for younger employees, while employees over 40 saw higher rates and more variance across carriers.<\/p>\n