Health insurance prices are steadily rising, leaving many Americans wondering when and if the prices will fall in the near future, according to Forbes.
Here are four highlights:
1. Prices on a benchmark plan across all major cities will rise 10.1 percent in 2016, as reported by Kaiser Family Foundation, according to Forbes.
2. While new payers enter the market and undercut prices, they often are later forced to raise prices to stay afloat in the market.
3. Although co-ops were designed to increase competition in the insurance exchange, co-ops are beginning to fail with only 13 of the original 23 continuing to sell plans.
4. With co-ops failing and major payers pulling out of exchanges, consumers can expect less plan options or higher prices.
More articles on coding & billing:
209k providers will experience 2% cut in Medicaid payments — 5 takeaways
Which US state experienced a drop in health insurance premiums? — 5 things to know
Alabama Medicaid Agency seeks $841M in 2017: 6 highlights