Rising care costs PwC’s Health Research Institute projects a 6 percent medical cost trend in 2019, consistent with the 5.5 percent to 7 percent range of the previous five years. (Photo: Shutterstock)

After employers and other stakeholders spent several years successfully slowing medical cost increases to single digits, the trend of rising costs for employers has stabilized – but that’s not good enough, as medical costs continue to grow as a percent of total employee compensation, according to PwC’s report, “Medical cost trend-Behind the numbers 2019.”

PwC’s Health Research Institute projects a 6 percent medical cost trend in 2019, consistent with the 5.5 percent to 7 percent range of the previous five years. Costs will likely rise as consumers access health care in more convenient ways, increasing utilization; more doctors become employees of health systems that charge higher prices than independent doctors; and likely higher prices due to the consolidation of the health care market from the recent megamergers such as CVS Health-Aetna and Cigna Corp.-Express Scripts Holding Co.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


NOT FOR REPRINT

© 2023 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.

Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.

More from this author

 

BenefitsPRO Broker Expo 2024Event

The premier educational and networking event for employee benefits brokers and agents.

Get More Information
 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.