Your health insurance bills are about to go up

Most Americans can expect to pay significantly more each month for health insurance next year, whether they get it through work, Obamacare or Medicare. In some cases, the premium increases may be the largest in decades and are driven by numerous economic pressures. But they won’t look the same for everyone. Some will pay more in the form of higher copays or deductibles.

“Healthcare costs are going up faster than they have in years, and open enrollment is when the healthcare affordability crisis is really going to hit home for people,” said Larry Levitt, executive vice president for health policy at KFF, a nonpartisan research group. “That’s true for whatever kind of insurance you have.”

Prices have shifted upward in every corner of daily life.

The rising healthcare costs stem in part from higher prices for hospital and other medical care, as well as the increased use of expensive prescription drugs — including GLP-1 weight loss medications — that are driving up spending for insurers and employers.

The pressures are unique to each type of coverage.

People who buy insurance through the Affordable Care Act marketplace, about 19 million adults, are set to face another year of steep premium increases…

Original source: https://www.nbcnews.com/health