By Randy Ray, Chairman of Senior Consumers of America
Affordability, affordability, affordability, and yes, affordability. When I talk to people my age in what we might refer to as the wise senior class of folks, that’s the main thing that they say is their hot button issue. That is, when you get them to stop talking about their healthcare needs. However, I will point out that along with a discussion of healthcare, the talk frequently moves to how expensive it is to go to the doctor now or to have even a minor procedure performed. If it is a major procedure, forget about it.
This fact begs the question. If seniors who have more financial stability than most in our society are having difficulties making ends meet, what must it be like for working families and young couples with children to care for?
But in the midst of this affordability crisis, one of the things that we forget about in Florida is how much more significant the costs could be if the legislature and governor and had not taken action back in 2023 to pass reforms to prevent frivolous lawsuits from continuing to damage our small businesses and consumers.
This year, something happened in Florida that has never happened before. Auto insurance rates have gone down almost across the board, and many hundreds of thousands of customers have received rebates. Comparatively, in most parts of the state, the price of homeowners insurance policies have either edged slightly downward or have flattened. In some instances, they have gone up, but not at the same rate as before, and believe it or not, Florida’s insurance marketplace is now one of the strongest in the country.
This is important because according to many analysts, the cost of insurance in Florida makes up about 13% to 25% of a family’s budget. Savings in this area means a lot, and the savings that we have received this year on insurance is directly attributable to the lawsuit reforms of 2023. That effectively stopped the cost of frivolous lawsuits that were being passed along to every consumer. Think about the horror stories you’ve heard before. The burglar breaks into a home, cuts his hand on glass, and files a lawsuit. We ended those things in Florida and brought some commonsense and stability to the insurance market.
That’s why as we get farther along in this election period when we are about to make a decision on who the next governor is going to be or on who the next members of the legislature will be, we need to reward those who are committed to maintaining the lawsuit reforms of 2023 and remind those candidates who are not as informed that we are counting on them to keep Florida leading the nation on this important issue.
