Perhaps people living in the Bay State area should move south if they want a little health cost relief. Massachusetts and Vermont led the nation in 2010 with average, individual market health insurance premiums topping $400 per person per month, according to new analysis from the Kaiser Family Foundation.
That's about double the national average, which stands at $215. Alabama has the lowest average at $136 per month.
Premiums in Rhode Island, New York and New Jersey were among the nation's highest, averaging between $344 and $364. California, Arkansas, Idaho and Delaware posted average monthly premiums of less than $170.
Researchers say premiums between the states are likely to become a larger issue in 2014 as the nation transitions to the use of purchasing exchanges affording online price comparisons and due to new laws that will require insurers to provide coverage to anyone regardless of pre-existing conditions. But analysis shows residents of states with lower premiums may face higher co-payments or deductibles.
Massachusetts has already made it easier for people with potentially expensive pre-existing conditions to get coverage, which is likely one reason for being the nation's priciest state.
But Mass. Gov. Deval Patrick's top health and human services aide said the reason for the higher cost in Massachusetts is a reflection of the New England region's generally higher cost of living.
“When you look at all of the contributors to increased cost in Massachusetts, about 15 percent of those increased costs are attributed to the higher cost of living in Massachusetts,” JudyAnn Bigby, secretary of Health and Human Services, told lawmakers on the House Committee on Bonding, Capital Expenditures and State Assets at a Statehouse hearing. “We're in a high-cost region.”
Still, high health care costs aren't anything new for Massachusetts. Five years after the state passed a universal health care law, officials are considering dramatic changes that would improve care and trim costs.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
