PPOs continue to be the most common form of health coverage.
WASHINGTON, D.C.-Employers continue to experience double-digit premium hikes, but they have few proposals for solving the healthcare cost crisis, according to a recent employer survey. This situation is making health insurance increasingly unaffordable to many Americans. Even though premiums rose "only" 11.2% on average in 2004-vs. 13.9% last year-that increase still far exceeds the rate of inflation (2.3%) and rise in workers' earnings (2.2%) for the current year. In fact, the cost of health insurance has jumped 59% since 2001, prompting fewer employers to offer coverage and fewer workers to pay for health benefits when offered, notes Jon Gabel, vice president of the Health Research and Educational Trust (HRET).
A survey of about 3,000 large and small employers sponsored by HRET and the Kaiser Family Foundation (KFF) found that the average PPO premium for a family of four hit $10,217 this year. HMO premiums averaged a "low" $9,504, but that still is unaffordable for many families, which now have to contribute an average $2,661 a year to employer-provided health coverage.
PPOs continue to be the most common form of health coverage, serving more than half (55%) of all employees with health coverage. Slightly more workers (25%) enrolled in HMOs this year, possibly because of lower premiums and out-of-pocket costs.
Employers also are switching insurers in their search for less-costly coverage. More than half (56%) of firms shopped for a new plan this year, and about one-third made a change. But with little overall shift in type of plan coverage, most employers end up more or less where they started, the survey indicates.
With inflation and wage rates remaining low, the public is unlikely to accept continued hikes in health costs. If premiums continue to rise, Altman notes, payers will be looking more closely to see if such increases merely reflect higher HMO and insurer profits than actual provider costs.
Bridging the Diversity Gap in Rare Disease Clinical Trials with Harsha Rajasimha of IndoUSrare
November 8th 2023Briana Contreras, an editor with Managed Healthcare Executive, spoke with Harsha Rajasimha, MD, founder and executive chairman of IndoUSrare, in this month's episode of Tuning in to the C-Suite podcast. The conversation was about how the disparity in diversity and ethnicity in rare disease clinical trials in the U.S. has led to gaps in understanding diseases and conditions, jeopardizing universal health, and increasing the economic burden of healthcare.
Listen
35th World AIDS Day Marks 20 Years of PEPFAR: Challenges and Strategies to Combat HIV/AIDS
November 29th 2023PEPFAR, having invested $100 billion and saved 25 million lives in the global fight against HIV/AIDS, faces Congressional hurdles in its reauthorization due to abortion debates. Despite widespread support and no evidence of abortion-related activities, the legislative process is at a standstill. Members of PEPFAR and authors of a recent editorial stress the significance of PEPFAR and advocate for integrating behavioral and social science into healthcare programs to achieve UNAIDS targets and address barriers in HIV/AIDS testing and treatment.
Read More
Managing Editor of Managed Healthcare Executive, Peter Wehrwein, had a discussion with William Shrank, M.D., a venture partner with Andreessen Horowitz, a venture capital firm in Menlo Park, California, about how artificial intelligence's role is improving healthcare, where we are today with value-based care and the ongoing efforts of reducing waste in the healthcare space for this episode of the "What's on Your Mind" podcast series.
Listen
Study Raises Concerns Over Insurance Barriers to HIV Prevention Medications
November 29th 2023Despite its efficacy, PrEP remains underutilized compared to the need for it. High costs are among the barriers to PrEP use, along with limited knowledge among clinicians, lack of health insurance, stigma, and underestimation of personal HIV risk.
Read More
Bridging the Diversity Gap in Rare Disease Clinical Trials with Harsha Rajasimha of IndoUSrare
November 8th 2023Briana Contreras, an editor with Managed Healthcare Executive, spoke with Harsha Rajasimha, MD, founder and executive chairman of IndoUSrare, in this month's episode of Tuning in to the C-Suite podcast. The conversation was about how the disparity in diversity and ethnicity in rare disease clinical trials in the U.S. has led to gaps in understanding diseases and conditions, jeopardizing universal health, and increasing the economic burden of healthcare.
Listen
35th World AIDS Day Marks 20 Years of PEPFAR: Challenges and Strategies to Combat HIV/AIDS
November 29th 2023PEPFAR, having invested $100 billion and saved 25 million lives in the global fight against HIV/AIDS, faces Congressional hurdles in its reauthorization due to abortion debates. Despite widespread support and no evidence of abortion-related activities, the legislative process is at a standstill. Members of PEPFAR and authors of a recent editorial stress the significance of PEPFAR and advocate for integrating behavioral and social science into healthcare programs to achieve UNAIDS targets and address barriers in HIV/AIDS testing and treatment.
Read More
Managing Editor of Managed Healthcare Executive, Peter Wehrwein, had a discussion with William Shrank, M.D., a venture partner with Andreessen Horowitz, a venture capital firm in Menlo Park, California, about how artificial intelligence's role is improving healthcare, where we are today with value-based care and the ongoing efforts of reducing waste in the healthcare space for this episode of the "What's on Your Mind" podcast series.
Listen
Study Raises Concerns Over Insurance Barriers to HIV Prevention Medications
November 29th 2023Despite its efficacy, PrEP remains underutilized compared to the need for it. High costs are among the barriers to PrEP use, along with limited knowledge among clinicians, lack of health insurance, stigma, and underestimation of personal HIV risk.
Read More
2 Clarke Drive
Cranbury, NJ 08512