Cost of health insurance in California soars

Fri, 01 Dec 2006

The average cost of health insurance in California has leapt by 8.7 per cent during the course of 2006. This is over double the inflation rate of 4.2 per cent, and is significantly higher than the nationwide average of a 7.7 per cent increase in premiums.

The findings were revealed by the California HealthCare Foundation annual survey in Oakland. Jill Yegian, the director of the health insurance programs for the California HealthCare Foundation in Oakland, said: "The big picture is that costs continue to increase at a significantly higher rate than inflation everywhere, including in California. The advantage we had in California with tightly managed HMOs has eroded."

According to reports from Silicon Valley, the hardest hit of all have been small businesses . Rates in this sector apparently soared by 11 per cent, leaving premiums extremely expensive. More than a third of businesses surveyed indicated that workers would have to pay higher deductibles next year.
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