The U.S. Department of Health & Human Services released a report earlier this morning about Competition and choice in the Health Insurance Lowered Premiums in 2015.
President of Texas State Financial and Health Justin Holland is a member of the San Antonio Association of Health Underwriters which has been a sound and solid resource for many leading agents and brokerages in the South Texas area with staying connected of the constant changes the industry encounters. Our brokerage is based out of San Antonio, Texas but protects individuals, families, and businesses all over the state. Mr. Holland was contacted again by national media outlet USA TODAY to comment on the breaking news of todays report.
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Premium growth and competition vary from one location to the next, however, and Justin Holland, an insurance agent in San Antonio, says he hasn’t seen much competition and doesn’t expect to see much during the next open enrollment starting in the fall.
“We service clients from all over the state of Texas, and I can tell you that there are a handful of counties that we are limited to just a few carriers with high premiums for plans that offer co-pays and lower deductibles,” says Holland, of Texas State Financial & Health, members of the San Antonio Association of Health Underwriters.
He says looming insurance mergers also don’t bode well for competition. Anthem recently announced a $54 billion deal to acquire Cigna, and Aetna announced an agreement to acquire Humana for $37 billion.
“That’s shrinking the carriers,” Holland says. “That’s not good for the consumer right off the bat.”