Browsed by
Tag: premiums

8 Tips That Can Help Drivers Pay Lower Car Insurance Premiums

8 Tips That Can Help Drivers Pay Lower Car Insurance Premiums

Press release content from Accesswire. The AP news staff was not involved in its creation.

LOS ANGELES, CA / ACCESSWIRE / October 13, 2020 / Compare-autoinsurance.org ( https://compare-autoinsurance.org ) has launched a new guide that presents several effective tips that will help drivers get cheaper car insurance.

For many drivers, paying the monthly car insurance bill can be quite difficult. More and more drivers are wondering if they can save some of the money they spend on insurance. Luckily, there are some easy methods drivers can take to lower their premiums and ensure they’re getting the best insurance rate. With a bit of ingenuity and an understanding of the insurance market, drivers can reduce their car insurance costs and get great coverage without breaking the bank.

To get cheaper car insurance, follow the next tips:

  • Regularly shop for car insurance. Most car insurance providers will change their rates every month. Shopping for car insurance once or more each year can help drivers take advantage of the insurance market’s ebbs and flows. Also, significant life changes like a new job, marriage, or earning a college degree might make the insurance premiums to be lower.
  • Follow all safety rules when driving and avoid distracted driving. It’s essential to stay safe, drive responsibly, and maintain a good driving record. Even one speeding ticket can increase the insurance premium.
  • Keep a good credit score. Insurance companies are allowed to take a look at the credit score to make sure their customers are responsible with money. Drivers with a higher credit score will pay cheaper car insurance rates.
  • Look for discounts. Insurance companies provide discounts for certain types of drivers who are seen as less of a risk. Drivers can get discounts for low-mileage, installed safety features, being a good driver,
Read the rest
Premiums Cost 10 Times More)

Premiums Cost 10 Times More)

Six months into the coronavirus pandemic, many Hollywood companies still can’t head back into production on film and TV projects because of one major roadblock: Insurers have made no moves to incorporate pandemic coverage into policies, leaving big studios to self-insure and smaller production companies to seek pricey alternatives — or gamble on shooting without any coverage at all. Productions that bought policies before March are largely safe, as multiple insiders tell TheWrap that most policies procured before the pandemic shutdown did not have COVID-19 or infectious disease exclusions, and cast insurance and civil authority policies cover expenses incurred due to the coronavirus. However, any policy written since March now has a “platter of exclusions” as insurers seek to mitigate potential losses, according to Brian Kingman, managing director at Gallagher Entertainment, who helps find coverage for Hollywood’s stars. Plus, no major insurance carriers will offer COVID-related coverage moving forward. “In the past, most, if not all, specialty insurance products related to film, TV and live events did not have written COVID-19 exclusions, so many of the productions that are being rebooted should have some level of coverage on a moving forward basis, yet the unfortunate news for new productions or…

Read original story Why Insurance Is Still a Roadblock to Restarting Production (Hint: Premiums Cost 10 Times More) At TheWrap

Source Article Read the rest

US family health insurance premiums surpass $21,000 before the pandemic

US family health insurance premiums surpass $21,000 before the pandemic

The average premium for family coverage in employer health plans is up about 4% this year to more than $21,000 — and employers are picking up more of the tab.



A man gets a flu shot at a health facility in Washington, D.C Jan. 31, 2020.


© EVA HAMBACH/AFP/Getty Images North America/TNS
A man gets a flu shot at a health facility in Washington, D.C Jan. 31, 2020.

Workers on average aren’t being asked to pay more in premiums for family coverage and those with individual coverage through their work aren’t seeing increases in deductibles, according survey results Thursday from the California-based Kaiser Family Foundation.

Loading...

Load Error

The findings speak to the stability of health benefits in the pre-pandemic economy when employers were competing for talent in a tight labor market, said Matthew Rae, an associate director at the foundation, which has surveyed employers on health plan costs for 22 years. Obviously, the current labor market is vastly different, Rae noted, with last month’s unemployment rate roughly twice the comparable figure last year.

“The premiums and health plans that we were asking about were plans that employers were setting a year ago when we had historically low unemployment,” Rae said.

“I would expect that not that many employers are going to make huge changes in the generosity of their plans over the next couple of months,” he said. “But the economic situation is really hard to put your finger on. It could be that employers will have to think about the generosity of their plans if they are really facing a lot of other costs.”

The Kaiser Family Foundation survey tacks trends in the market for employer-sponsored health plans, which provide coverage for more than 150 million Americans. Employer coverage is the largest single source of insurance in the U.S., with more enrollees than the federal Medicare program.

When Kaiser first surveyed employers on premium costs

Read the rest
Employer-sponsored health insurance premiums rose 4 percent in past year: analysis

Employer-sponsored health insurance premiums rose 4 percent in past year: analysis

Employer-sponsored health insurance premiums rose 4 percent over the past year, outpacing the increase in workers’ wages and the rate of inflation, according to an analysis released Thursday by the Kaiser Family Foundation.

Average annual premiums for employer-sponsored health insurance are now $7,470 for a single plan and $21,342 for a family plan, up 4 percent from the previous year. Those dollar amounts include both worker and employer contributions.

Meanwhile, wages increased by 3.4 percent alongside 2.1 percent inflation. 

About 157 million people get their insurance through work, and the costs have steadily risen over the years.

The average premium for family coverage, including the employer contribution, has increased 22 percent over the last five years and 55 percent over the last decade.

In 2020, on average, workers contributed 17 percent of the premium for single coverage — about $1,243 — and 27 percent for family coverage, or about $5,588.

Rising health care costs have been one of the reasons behind stagnant wages.

Eighty-three percent of covered workers had an annual deductible for single coverage that must be met because most services are paid for by the plan, according to the Kaiser Family Foundation analysis.

The average deductible for single coverage was $1,644 in 2020, similar to the average deductible last year.

Sixty-five percent of covered workers have coinsurance that requires they pay for a percentage of their care of meeting their deductible.

The analysis concluded that health care costs were stable in 2020, with premium increases modest and consistent with recent years. However, as the analysis was conducted in the early days of the pandemic, it doesn’t address how employers responded to it.

Read the rest

U.S. family health insurance premiums surpass $21,000

U.S. family health insurance premiums surpass $21,000

The average premium for family coverage in employer health plans is up about 4% this year to more than $21,000 — and employers are picking up more of the tab.

Workers on average aren’t being asked to pay more in premiums for family coverage and those with individual coverage through their work aren’t seeing increases in deductibles, according survey results Thursday from the California-based Kaiser Family Foundation.

The findings speak to the stability of health benefits in the pre-pandemic economy when employers were competing for talent in a tight labor market, said Matthew Rae, an associate director at the foundation, which has surveyed employers on health plan costs for 22 years. Obviously, the current labor market is vastly different, Rae noted, with last month’s unemployment rate roughly twice the comparable figure last year.

“The premiums and health plans that we were asking about were plans that employers were setting a year ago when we had historically low unemployment,” Rae said.

“I would expect that not that many employers are going to make huge changes in the generosity of their plans over the next couple of months,” he said. “But the economic situation is really hard to put your finger on. It could be that employers will have to think about the generosity of their plans if they are really facing a lot of other costs.”

The Kaiser Family Foundation survey tacks trends in the market for employer-sponsored health plans, which provide coverage for more than 150 million Americans. Employer coverage is the largest single source of insurance in the U.S., with more enrollees than the federal Medicare program.

When Kaiser first surveyed employers on premium costs in 1999, the average premium for family coverage was $5,791 — a fraction of this year’s average cost of $21,342. Just since 2010, family

Read the rest