Report shows that West Virginia’s health insurance costs are rising dramatically

The Commonwealth Fund, a private foundation working to improve the health care system, has released a new report concerning the state of health insurance premiums in West Virginia. According to the report, premiums in the state have risen by 55% in the last decade, with deductibles jumping by 84% in the same amount of time. The report suggests that the state has the 14th highest premiums in the nation. This puts major financial stress on state residents as West Virginia is home to the lowest median income in the U.S.…

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Health insurance rates to rise by an average of 8% in New York

Data from the New York Department of Financial Services, which succeeds the state’s Insurance Department, shows that New Yorkers can expect to pay at least an average of 8% more on health insurance next year. In other, more populated areas of the state, such as New York City, the rates could get double-digit increases. Regulators have approved rate proposals from several insurance companies. The rate increases will affect more than 2 million policyholders throughout the state. Regulators approved the sleuth of rate increases in the hopes that the move would…

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Baby boomers fear Medicare benefits won’t be enough

The First of the baby-boomers that qualify for Medicare in 2011 are worried. A recent survey shows deep concern about whether or not, throughout their retirement, they can depend on a health insurance plan ran by the government. Poll sources say 43% of Americans born on 1946 to 1964 don’t expect to rely on Medicare perpetually while 20% feel that their Medicare is safe and the other 37% percent have mixed thoughts.  Sources state that 63% of the baby boomers voted for dismissal of the idea of increasing the eligibility…

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