Medical Care Plan Costs Will Increase in 2010
Sponsors of medical care plans are growing anxious, waiting for politicians to decide on a healthcare reform solution. However, increasingly expensive healthcare costs have forced them to look for new ways to control medical costs.
In a new survey conducted by The Segal Company, it has been revealed that the cost of medical plans will continue to increase, staying four times greater than the growth in annual earnings.
The survey was conducted earlier this year, citing 80 medical insurance providers, managed care companies and pharmacy benefit managers. Using their responses, they were able to determine which trend factors will be applied to the processing of actual medical claims in order to predict the expected claims in 2010.
National Health Practice Leader Edward Kaplan has noted that medical care plan sponsors are anxious, as they cannot wait for the American government to create a healthcare reform plan. “Health plan cost trends continue to put major pressure on plan sponsors, who are not waiting for health care reform,” said Kaplan.
Segal’s survey also reveals that in 2010 managed medical care plan projections will be similar to 2009 numbers, as they will range from 10.2% to 10.8%. Health plans with higher deductibles, on the other hand, are predicted to see a slight increase to nearly 12% in the coming year. Projected drug trends have managed to stay lower than 10% for the second year in a row in 2009, continuing to decrease from its high point, at nearly 20% in 2001.