Premium Hikes, Cost Sharing Putting The Squeeze On Benefit Buyers, Users
A stressed-out healthcare system has prompted costs of employer-sponsored group medical insurance to continue their sharp upward spiral, with employees being forced to pick up more of the tab, according to a survey by an insurance broker group.
“We're seeing sizeable increases in premium across the board, as well as substantial reductions in benefits in the sense of increasing deductibles, higher co-pays, and an incredible shift away from HMOs, back to PPOs,” said Ken A. Crerar, president of the Council of Insurance Agents & Brokers in Washington.
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