A report from Consumer Watchdog showed that a group of health insurance providers in California are raising premiums, and the move will affect approximately 1.1 million residents and small business owners.

Premiums are expected to rise by an average of 3.66 percent and 13.8 percent, the report said. However, this can go to more than 20.4 percent for some Americans. The companies involved in the hikes are Aetna, Health Net, UnitedHealthcare and Anthem Blue Cross. At the moment, there is no insurance regulators in the state that have an opportunity to prevent rate hikes. A total of 35 U.S. states have this ability.

"Health insurance companies raise premiums behind closed doors with no accountability," said Carmen Balber with Consumer Watchdog Campaign. "California families and small businesses have reached the breaking point with year after year of reduced benefits and crushing double-digit rate increases."

Consumers who think that their current insurance premiums are too high may benefit by looking for other options. Going online and comparing affordable health insurance rates could help make sure they have a plan that is both inexpensive and sufficient.