Most insurers in the United States are public, for-profit companies that prioritize shareholder interests. Health insurance premiums have trended upward for years and are now rising faster than wages and overall inflation. Since 1999, employer-provided premiums have more than quadrupled, and from 2023 to 2024 they increased over 6% for individuals and families. Affordable Care Act marketplace enrollees often face even steeper increases, and state review of proposed rate hikes typically occurs only when increases exceed 15%. Proposed 2026 rate requests include double- and triple-digit raises in some states, threatening affordability and access to care.
Consider that, from 2000 to 2020, egg prices fluctuated between just under $1 and about $3 a dozen; they reached $6.23 in March but then fell to $3.78 in June. Average gas prices, after seesawing between $2 and $4 a gallon for more than a decade starting in 2005, peaked at $4.93 in 2022 and recently fell back to just over $3.
From 2023 to 2024 alone, they rose more than 6% for both individuals and family coverage - a steeper increase than that of wages and overall inflation. For many people who have the kind of insurance plans created by the Affordable Care Act (because they work for small companies or insure themselves), rates have probably risen even more drastically. In this market, state regulators scrutinize insurers' proposed rate increases, but only if they exceed 15%.
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