Insurance for unemployed New Jerseyans: You pay more for insurance, according to new study

  • August 16, 2021

The cost of health insurance has gone up for the first time in more than a decade, according a new study.

The Associated Press analyzed data from insurance companies and employers in New Jersey and found that the cost of insurance in New York City and New Jersey increased by almost 20 percent.

In New York, the average annual premium was $1,939 for people 65 and older and $1.074 for people with incomes up to $125,000.

In Jersey City, the increase was just 7.9 percent.

Health insurers have been trying to find ways to make up for a decline in the population.

The Kaiser Family Foundation reported in December that premiums were increasing faster than wages in New England states.

The AP also found that people are increasingly choosing health insurance through the Affordable Care Act.

Insurance companies have been increasing the rates and types of plans offered to low-income individuals and people with lower incomes, but the rates remain lower than those in places like California and Texas.

The increase in costs is not expected to slow down anytime soon.

Insurance is expected to cover about half of people who get health care, which will increase the number of uninsured people.

The AP reported last month that the federal government is set to release its latest numbers on the number and size of people covered through the health law.