How Much Will My Premium Increase Each Year?

In California, your policy generally can only be cancelled if you do not pay your monthly premium or the health insurance carrier discovers fraud of some sort.  As far as the monthly premium, many ask what will happen each year to the rate if the participant gets sick and has huge medical bills.

Health insurance carriers are not allowed to just increase one individual policy by itself.  Meaning, increases can only happen per region.  For instance, each member is pooled with other members and are put into regions.  If the health insurance carrier pays too much on claims against how much they received in premium, for that one specific region, then the entire region would get an increase.  This pooling of insurance helps off set giant renewal increases to your health insurance premium.  However, that being said, many members have received large increases so it is very important to always shop and compare health insurance plans to get the best deals.