LAS VEGAS (KLAS) — In addition to rising rent and food costs, healthcare costs are also soaring and will likely continue to rise higher next year.
Ozella Renguul has been an insurance broker for Tyler Insurance Group for over a decade. At the moment, she is in the midst of helping people navigate an overlapping open enrollment period with Medicare and the Affordable Care Act.
“It’s a very stressful time for everyone, especially as inflation is upon us and increasing,” Renguul said.
As a seasoned broker, she helps people tailor their plans for the upcoming year. Renguul said some consumers are only seeing slight increases in premiums since many of the premiums for 2022 were finalized in the fall of 2021 before the extent of rising prices became clear.
However, Renguul said there are also new carriers in the market which have seen double-digit increases.
Renguul said a common reaction she is hearing from many of her clients is, “I was hoping my premium for family wouldn’t go up another $100, but when you showed me other carriers it’s a $150-$200 increase compared to the carrier I’m with.”
As inflation continues to grow, there could potentially be a higher increase in average premiums for 2023 than we have seen in recent years.
Renguul said each year with open enrollment, it can be a difficult discussion to have with clients because rates are not getting lower.
“I’m needing to help people responsibly budget their healthcare with their family and I hear them on the phone say, ‘well I’m going to cancel that membership’ or ‘cut doing this because I need to have health insurance,'” Renguul said.
Renguul encourages everyone to find a broker that they trust since a broker works for their clients, not the insurance companies.