Individual health insurance rates in Florida are expected to increase next year by an average of 19%, the Florida Office of Insurance Regulation revealed.
Health News Florida reported that premiums in 2017 will range from $399 per month to over $600. Of the insurers who proposed rate changes for next year, Humana requested the biggest increases at 37%. The insurer with the smallest increase is Health First Commercial Plans, at 12%.
Tax credits could be used to lower consumers’ costs—an individual earning $27,000 a year, for instance, could reduce his payments to as little as $150 a month thanks to the subsidies. Similarly, a family of four in Orange County that makes a total of $53,000 a year would pay about $400 per month with tax credits.
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