Does it cost me anything to work with an insurance agent?
No. You are not charged an increase in premium for working with an agent.
The insurance company you select will compensate the agent.
What are the advantages of working with an insurance agent?
If you have an agent you can develop a long lasting relationship with them and they will be there for you when you need help with your insurance policy.
Why do my health insurance rates increase?
Medical spending drives rates up. The costs of medical services can go up for many reasons, like physicians or laboratory charges, more use of health care services, new technologies, prescription drugs, an aging population, and unhealthy lifestyles. Companies must charge enough to cover their projected claims and administrative costs.
Why did my rate go up when I did not have any claims?
Insurance is bought to protect you from the full financial burden of unexpected medical events. Insurance is the pooling of risks, so individuals pay a share of the pooled experience in exchange for coverage. If it was not shared in this way, everyone would have to pay the full rate for their own claims; that would not be insurance.
How often can my rates go up?
Generally, an individual health plan may not raise premiums more than once every 12 months. Another reason your rate may change is due to reaching a higher age bracket. As you age you could move into an age band where the rates are higher.