GROUP MEDICAL

The rate of inflation for health care has been in the double digits for many years. Double-digit inflation increases are predicted for the next decade. This is a growing concern for all employers.

Health insurance carriers cite the following items contributing to the increase in health care costs:

(1) Prescription drugs - This expense is projected to grow 20 to 30 percent per year over the next several years.
(2) New technologies and treatments - The development and administration of new advances in treatment are costly.
(3) Increased demand for health care - People with medical insurance seek new technologies and treatments. This leads to more insurance claims for payment by insurance companies.
(4) America’s aging population - Eighty million people will turn 50 in the next 10 years. The cost of providing health care to these individuals is tremendous.

(5) Increase in uncompensated care - There are an estimated 44 million Americans without health insurance. The cost of providing care to these individuals is borne directly by insured consumers.


Click here to request more information from a representative at Tucker & Shepley Benefits and Insurance.

EMPLOYEE BENEFITS