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Defeat Diabetes
150 153rd Ave,
Suite 300

Madeira Beach, FL 33708

Study 2008: Healthcare Costs To Rise AGAIN!

Posted: Wednesday, September 10, 2008

We continue to see healthcare costs rising and those with diabetes will certainly feel it the most. Let's hope that the new president will do something to help. Consider getting involved with one of the presidential candidates after viewing their ideas on improving healthcare in this country.
Fifty-nine percent of companies intend to keep down rising health care costs in 2009 by raising workers' deductibles, copays or out-of-pocket spending limits, according to a survey by the Mercer consulting firm.

On average, health care costs will rise by an estimated 5.7 percent next year for both workers and their employers. That is equal to this year's increase and a 6.1 percent hike in 2007.

The growth of health care costs has hovered at around 6 percent since 2005, according to Mercer. That's down from the double-digit growth in previous years, but it's still moving at a faster rate than inflation or workers' wages.

The study also found between 2003 and 2007, the average deductible for an individual grew from $250 to $400. For a family, it rose from $1,000 to $1,500.

Once workers spend that out of pocket amount for medical care, they begin sharing costs with employers, with the company covering an average of 80 percent.

The Mercer survey also found 47 percent of companies said they are encouraging enrollment in plans with lower premiums and higher deductibles. It reported 19 percent of employers would start offering a consumer-directed health plan, which has high-deductible and employee-controlled spending accounts. Last year, 12 percent of all employers said they were "very likely" to implement such a plan by 2009.

About half of the 3,000 large companies surveyed responded. Mercer is a global provider of consulting, outsourcing and investment services. The company is a subsidiary of Marsh & McLennan Companies Inc.

Source: Diabetes In Control

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150 153rd Ave, Suite 300
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