If you purchase your own health insurance plan coverage, then you probably cringe each year when you receive your renewal paperwork from your provider. You aren’t alone, as a new study shows that recent health plan premium rate increases average 20%. That is enough to make any sane person cringe.

The Kaiser Family Foundation report says that over three quarters of people who buy their own health insurance coverage (non-group coverage) have faced recent premium increases. 16 percent of those facing a premium increase chose to change plans, either staying with their current provider, or jumping ship to a different health insurance provider. This generally resulted in a cheaper plan that did not offer as comprehensive level of coverage.

The Kaiser Family Foundation report goes on to say that over one-quarter of those paying for their own insurance have a high deductible plan (at least $5000 deductible). This is because one of the ways to get the cheapest health insurance coverage is to raise your deductible, which means you will be responsible for a higher out-of-pocket expense, resulting in lower monthly health plan premiums.

Approximately 14 million people in the United States under the age of 65 purchase their own coverage. Almost half of these people are self employed, thus do not get coverage from an employer. One-quarter of those purchasing their own coverage do so because their employer doesn’t offer coverage, or the person cannot afford the employer’s coverage option.

The issue of sharply rising health insurance premiums for those purchasing their own coverage results in 40 percent of people saying they are not very confident that they will be able to pay their usual medical bills. And the situation isn’t getting any better with rising insurance coverage costs (and over all medical costs).

If you are in the market for health coverage, or if you are faced with a steep premium increase with your current health plan, then it is time to do a health insurance plan comparison online. There are websites that allow you to compare your health plan options side-by-side so that you can make an educated, informed decision as to which plan is best for you.

Unfortunately, as you age, your health plan premiums continue to rise. Hopefully the current health reform process will help with this, but in the meantime, do your homework and find a health insurance plan that you can live with.