SHP Premiums Will Increase in 2013 for Employees, Employers
On August 8, 2012, the South Carolina Budget and Control Board voted to increase premiums for the state’s health insurance plans. Beginning January 1, 2013, employers, employees and retirees will pay 4.6 percent more for insurance through the State Health Plan.
This translates to an average increase of $19.22 per subscriber per month for employers and an average increase of $7.24 per month for subscribers. The actual amount of the increase will vary depending on the level of health insurance coverage—subscriber only, subscriber/spouse, subscriber/children or full family. Specific premiums will be determined and announced soon.
Like other insurance programs nationwide, the State Health Plan has experienced a steady increase in medical and prescription drug costs. With this trend expected to continue, adjustments in employer and employee premiums are necessary to have enough money to pay claims in 2013.