Health Insurance Costs Expected to Rise by Six Percent in 2025

Missoula, MT (KGVO-AM News) - The consulting firm Mercer stated recently that employer health insurance rates could rise by 5.8 percent in 2025, due to increasing healthcare costs.

Most firms and companies offer health insurance coverage to attract and retain their employees, and while the cost of gas has been moderating, the prices for just about everything else, including health care, continue to rise.

It Might Be Wise to Contact Your Employer About Increases in Health Care Coverage

For those seeking to obtain health insurance on their own, I logged on to the website HealthCare.gov, where the open enrollment period typically starts on November 1 and closes on January 15.

When it comes to choosing the right plan for yourself and your family, I spoke to State of Montana Deputy Insurance Commissioner Frank Cote for guidance.

“One of the things that people are really going to want to look at this year is the provider network, meaning which doctors, which hospitals are in network,” began Cote. “Some plans offer smaller networks where they only have certain hospitals in a network, so you want to make sure that the doctor you go to and the hospital that you may go to are all in-network."

The State Insurance Commissioner Offers Advice on Health Coverage

For those planning to have children, Cote had specific advice.

“If you're going to go to a specific hospital to have your baby delivered and that hospital is not in the network of the policy that you purchased, you're going to have to pay a lot more out of pocket than you would if you went to a hospital that was in-network for your particular insurance plan,” he said.

For those approaching 65, Cote explained some of the options offered by Medicare.

“There are basically two different types of Medicare policies that you can get,” he said. “First of all, you have your basic Medicare, and you can get a Medicare Supplement, which will cover most of the expenses that aren't covered by Medicare. With that, you can also get what they call a Part D, which would cover your drugs as well within certain parameters.”

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Commissioner Cote Said CSI Will Help Consumers with Insurance Problems

Obviously, Cote said the Commissioner of Securities and Insurance cannot recommend any single healthcare company or plan, but he did say the agency will go to bat for consumers who may have complaints about their health insurance company.

“If you're having trouble with your insurance company, you can either call 406-444-2040 or you can go online to CSI.mt.gov and right there on the front page, it says, ‘file an insurance complaint’. You click that button and fill in the form and click ‘submit’, and that will get right to our advocates that will help you through the process.”

If you are covered at your workplace, get together with your HR staff before the start of the New Year and go over the possible increases in the cost of your individual or family health insurance.

Click here to get more details from the Commissioner of Securities and Insurance.