A new report from the New Hampshire Insurance Department says that heath insurance rates are on the rise in the state. The “Medical Cost Drivers Report” finds that health insurance premiums jumped 3.8% in 2011.
The data also shows that insurance companies saw a near 3% increase in profits.
Insurance Commissioner Roger Sevigny says that rising co-pays and deductibles mean the insured are less able to rely on their health plans to cover medical bills.
There’s only so much cost sharing that someone can bear, and still call it insurance.
The report also found that administrative expenses for insurers grew by 6%. Advancements in medical technology and related costs are also pushing up rates.
