Florida Officials Say Premiums Will Rise up to 40% Under PPACA

Health insurance premiums could increase by up to 40 percent for individuals and up to 20 percent for small businesses when the new exchanges go into effect, according to the Florida Office of Insurance Regulation.

Premium increases will vary dramatically based on people's current policy benefits, according to a state insurance department presentation. The state expects individuals to see premium increases of 30 to 40 percent, while small businesses could experience premium hikes of anywhere from 5 to 20 percent. Details and specific rates are not yet available.

The Florida insurance department has disclosed that 11 insurers have filed to sell policies on the state's individual exchange, and five have filed to sell coverage on the small business exchange.

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