BestHealthcareRates.com Reports Healthcare Shoppers Save On-Line While Insurers Face Increased Competition

October 21, 2008

The Internet plays an important role in fixing America’s healthcare crisis. Insurance companies face increased competition on line because of websites such as www.BestHealthcareRates.com. The Internet has brought drastic changes to the health insurance industry, forcing insurers to offer richer benefits at more competitive prices.

At websites such as www.BestHealthcareRates.com consumers can compare side by side, health insurance plans from many competing companies. It is very easy to quickly spot which plans are strong in certain areas or weak in others, or which plans are priced well, said Dawn Carolan, a principle at BestHealthcareRates.com. Insurers are forced to design plans that are benefit rich and competitively priced or lose out to a competitor.

Health care costs are expected to rise more than 10 percent into next year, according to a survey of insurers by Aon Consulting Worldwide.

But that increase is the smallest Aon has seen in six years. Experts say it shows that efforts to tame costs combined with the increased competition, may be paying off.

Aon Consulting surveyed about 70 health insurers around the country, including companies such as Aetna Inc. and Cigna Corp. It found that actuaries expect costs to rise an average of 10.6 percent during 12 month rating periods starting this year between April and September.

That represents a slight drop from last year’s forecast of 10.9 percent and a bigger fall from 2002, when health care costs were expected to rise by more than 16 percent.

Costs are still rising to keep up with growing patient demand for services, the needs of an aging population and prescription drug and technology costs, according to Aon Consulting.

Overuse and misuse of services and an out of control medical liability system also contribute to increases, said Robert Zirkelbach of America’s Health Insurance Plans, a trade association representing nearly 1,300 insurers.

It is encouraging that the growth in health care costs is going down, but there is still more work to be done, he said.

About BestHealthcareRates.com
Since 2001 BestHealthcareRates.com has helped thousands of families and businesses to find the most benefits for their insurance budget. The company is committed to exceptional service and strives to achieve 100% customer satisfaction and Affordable Health Insurance for all. For more information visit www.BestHealthcareRates.com , email TomC@BestHealthcareRates.com or call Tom Carolan Director of Client Services at 1-877-812-5111.