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Article: Editorial: Slowing cost hikes are good news.(Opinions)(health care cost increases)
- Article from:
- Business Insurance
- Article date:
- October 20, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WHO WOULD HAVE thought health care cost increases averaging 12.6% would be considered good news?
Given that next year's projected cost increase, according to a recent Hewitt Associates Inc. survey, is more than two percentage points lower than this year's 14.7% rise, a drop in the rate of increase is good news for employers and insurers.
To be sure, no one envisions a return anytime soon, if ever, to a decade ago when rates were falling as managed care plans aggressively competed for market share.
But there are signs, such as the Hewitt survey, that perhaps the worst of the runup in health care costs may be over for the near term.
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