Health Insurance Risk Pools

The health insurance rates for any closed risk pool generally tend to be higher because the pool of insured’s is “closed” for business. Now having said that, the good news on the surface is that when June 1, 2010, comes along and the old Medicare supplements go out and the new comes in, and two closed risk pools are created, insurance companies are going to reset rates because of the fierce competition that will result for health insurance customers. Translation: there will be lower rates for a while to attract customers.

So there may be some terrific deals to be had when this happens. The question will be how long the rate wars will continue and what will be the outcome later. It’s hard to guesstimate what the Medicare supplement insurance market will do in terms of costs for premiums.

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