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Article: Health Care Costs Could Spike In 2002.(Brief Article)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- November 5, 2001
- Author:
CopyrightCOPYRIGHT 2001 Summit Business Media. 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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U.S. employers are about to be socked with double-digit health care cost increases in 2002, according to Hewitt Associates, Lincolnshire, Ill.
On average, Hewitt forecasts that companies will receive cost increases of at least 13% for preferred provider organizations and point-of-service plans, 15% for traditional indemnity plans and 18% for health maintenance organizations.
The average cost per person for most major companies will increase $4,522 to $5,336 for HMOs; $4,834 to $5,463 for PPOs; $4,857 to $5,489 for POS plans.
"With a slowing economy, skyrocketing health care costs and shrinking bottom lines, containing healthcare cost is ...