Double-digit Rise in Health Plan Costs Projected
A survey conducted by Chicago, Illinois-based Aon Consulting Worldwide finds health care costs for employers are expected to increase by an average 10.6% next year. The survey also forecast a 9.2% increase in costs for prescription drugs.
The survey polled more than 70 leading health care insurers that represent more than 100 million insured individuals.
Survey results found that actuaries expect costs to increase by 10.6% for health maintenance organization plans, 10.5% for point of service plans, 10.7% for preferred provider organizations and 10.5% for consumer-directed health care plans.
The gains are slightly lower than projected, and are the lowest since the survey first launched in 2001.
John Zern, Aon Consulting’s U.S. Health and Benefits practice director, said “While the medical trend rate is still more than twice the consumer price index, it is encouraging to see that health care cost rate increases are continuing to slow down. This is a step in the right direction for companies nationwide that continue to feel significant health care price pressures.”
Published on August 12, 2008
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