Home | Print Page | Contact Us | Sign In | Register
Weekly Industry News
Blog Home All Blogs
Search all posts for:   

 

View all (2398) posts »
 

Act II of ObamaCare — A Look at the Upcoming Year

Posted By PIA Western Alliance, Tuesday, October 7, 2014

The consulting company the Segal Group took a look at what employers can expect from the Affordable Care Act in 2015. Here are the conclusions of the Segal Groups 18th annual Health Plan Cost Trend Survey:

  Cost increases for group and pre-Medicare retiree coverage will be between 6.2% and 10.4% depending on the type of plan.

  Prescription cost coverages will be higher by an average of 8.6%

  Last year it was 6.3%.

Edward Kaplan who runs the firms health practices said, New specialty drugs coming onto the market and price increases for brand-name drugs are the main forces driving prescription drug plan cost trends. Typically, less than 1% of all prescriptions are specialty drug medications, yet these drugs now account for more than 25% of total prescription drug cost trends. The projected specialty drug/biotech trend rate for 2015 is an exceptionally high 19.4%.

These are the trends Segal listed in the report. They are for 2015 and are compared to 2014:

  20152014

Preferred Provider Organizations

7.8%
7.9%

Point of Service

7.5%8.4%

Health Management Organizations

6.2% 7.2%

High Deductible Health Plans

8.3%
7.9%

Fee-for-Service/Indemnity Plans

10.4%10.4%

Prescription Drug Carve-Out

8.6%6.3%

Caps for out-of-pocket expenses says the Segal report will drive the medical benefit costs up 1% and prescription drug coverage costs by 1.5%.

 

Source: Businessinsurance.com

Tags:  Healthcare  HealthCare.gov  Insurance Industry  ObamaCare  The Affordable Care Act  Weekly Industry News 

Share |
Permalink | Comments (0)
 

A special thank you to our KKlub Members for their support.