Health Insurance Companies Increase Premiums for Atlanta Employees
Many workers hoping for a bonus from their employers this month received something a lot less pleasant: a memo stating that their health insurance premium will go up next year.
Health insurance companies are raising rates on employers, who are in turn passing the costs on to us. Insurers often place blame on expenses associated with healthcare reform, but the truth is, health costs have increased every January for years. We should be used to it by now - but that doesn't make it any less painful for those of us who are already struggling to pay the bills as it is, say Atlanta bankruptcy attorneys.
Fortunately, we still have some say in the matter.
In order to lower monthly payments, many people are switching to plans with a higher deductible. That means you'll pay more out of pocket throughout the year, but you'll save money on your premium. Of course, it's kind of a gamble, since you could ring up some pretty high bills if you require unexpected medical care throughout the year, but that's where a health savings account comes in handy. More plans are including HSAs, which allow you to invest cash for health-related costs, tax-deferred.
That's not all. You can also pick up some savings by opting for generic prescriptions rather than the name brands you see advertised on TV. And in light of rising costs, more employers are offering incentives to employees who join wellness programs, since a healthier workforce means less employer payouts down the road. On average, bosses are coughing up $380 for people who sign up for things like fitness programs and smoking cessation sessions.
Of course, even after making adjustments to our plans, there's a good chance we'll still feel the pinch of higher health rates, especially if money was tight before premiums went up. But there's another kind of an adjustment that can remedy that - lowering debt. By reducing your balance, you reduce interest and the overall size of your payments - essentially, you give yourself a raise.
Filing for bankruptcy can help you reduce or eliminate the largest of debts while also protecting your assets. Even better, it's free to find out what kind of bankruptcy plan best suits your situation when you sign up for a complimentary personal debt analysis with an Atlanta bankruptcy attorney.