BUPA - Insurance help needed

In July, our Bupa premium increased 37% compared to 6 months earlier. We have never filed a claim. Their cover letter included this paragraph (with emphasis added):

"Enclosed you will find your renewal notice reflecting an increase in your premium. We have worked hard to keep the rates as low as possible. However, the rising cost of healthcare and the high utilization of medical services are the main factors behind this rate increase. In addition, if you and/or your spouse have moved to a higher age bracket within your plan, you may experience a higher premium increase."

I doubt that Bupa has suddenly become more generous with their benefits. Therefore, I suspect that Bupa is in a death spiral*, which means that healthy customers are dropping the insurance, probably because of hard times, leaving the rest of us to pay more. It should get worse because the rest don't want to pay more, so more of the healthy ones will drop out in the next cycle. Also, Bupa is not taking on new customers, so the flow of customers can only go in one direction.

* See http://en.wikipedia.org/wiki/Death_spiral_(insurance)

Thanks Bob - I agree. Glad to know we are not the only ones. And we got the exact same form letter as you.

Here is more info about health insurance choices from Carlstx. He's an insurance agent on STX:

https://www.vimovingcenter.com/talk/read.php?4,163147,163200#msg-163200

Thank you STXBob. It is my understanding that the BUPA company has instituted a 30% premium increase for the 2012 renewals on the current policy holders in the U.S. Virgin Islands. Although we have limited choices for health coverage, we can offer group health insurance for companies with United HealthCare Ins. Co. with as few as two employees. A husband and wife can qualify as the two employees as long as both are actively employed by the company. Please feel free to log on to our webpage for a quotation. www.InsuranceVI.com