A new study by Hewitt Associates found average health care costs increased 6 percent in 2008, up from 5.3 percent in 2007.
Major companies can expect the average health cost per employee to increase from $8,331 to $8,863 next year, with employees making up approximately 22 percent of the overall premium. Average out-of-pocket costs for employees are also expected to increase, from $1,707 in 2008 to $1,880 in 2009. The study projects employees' health care costs in 2009 will total $3,826, up 8.9 percent from $3,513 in 2008.
Traditional indemnity plans saw the greatest increase at 10.1 percent. HMOs increased by 8 percent, and PPOs increased by 4.8 percent. Average costs for POS plans increased by 3.9 percent.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
