Park City, Utah (PRWEB) August 25, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on Florida Health Insurance Exchange rates.
According to Zane Benefits’ website, on August 7, 2013 the Florida Office of Insurance Regulation (FOIR) released proposed individual health insurance plan rates and carriers for the Florida Health Insurance Exchange. The FOIR also released analysis of these plan rates in comparison to the current market.
Individual health insurance plans offered through the exchange will increase 30%-40% on average. However, most Florida residents will be eligible for health insurance premium subsidies that will cap their premium cost at 2%-9.5% of household income.
The FOIR published a “Notice of Premium Impact Template,” comparing Florida’s gross annual premium before and after the implementation of the Patient Protection and Affordable Care Act (PPACA).The report compared the projected cost of a Silver Plan to the average cost of a hypothetical standard risk plan adjusted to reflect the value of a Silver Plan.
11 insurers that will be offering insurance in Florida starting in 2014.
The document notes that “these PPACA plans are new products, with new benefits and requirements, so it is not possible to directly compare them to an existing product sold in Florida. But it is possible to provide some idea of the expected impact of changes.”
Both Kevin McCarty and the FOIR ensure that premium increases are due to the fact that the new insurance plans will offer a better quality range of health benefits. Some improvements that th
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