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Wednesday, October 6, 2010 - 9:57am

Health Insurance Premiums Rise

Large businesses in Georgia are experiencing steep increases in health insurance premiums. This is according to Hewitt Associates, a consulting company that did a national survey of large businesses. It determined that in 2011 insurance premiums will be at their highest levels.

Officials with Hewitt say that small businesses may be experiencing even worse increases.

David Smith with Kearny Street Communications, manages healthcare companies. He says the increase in premiums will continue over the next three years until the healthcare bill completely goes into effect in 2014.

“A lot of the increase right now is really the unknown of the rules and regulations that are going to be imposed on the insurance companies in the future under the new healthcare bill that passed this past year,” he says.

Smith says that the minimal coverage companies were once able to offer to employees is no longer allowed. As a result, employees will see greater healthcare coverage but a smaller paycheck due to the cost.