September 19, 2017

in Benefits & Health

Health Trend Report: Rising Drugs Costs

Accompass' report Fresh Perspectives on Group Benefits: The Latest Thinking From Plan Sponsors, Members, and Insurers has insight into the trends developing in benefits plans costs. Stay up to date on trends to anticipate changes as you strategize plan designs.

Inflated Health Trend Factor

In 2017, the average insurance company health trend factor (the year-over-year cost increase or decrease) remains in the 11% to 12% range—in line with previous years dating back to 2012.

While these costs increases are far ahead of inflation, the cost trends you experience will be unique to your organization. At Accompass, our clients often see trends that are 3% to 4% lower than the average carrier trend factor.

2016 Inflation Trends

1.4% - CPI Inflation

1.3% - CPI Health Care

2.52% - Employers' Average Increase in Salary Budget

5.6% - Insurers' Dental Trend Factor (excluding fee guide)

11.8% - Insurers' Drug Trend Factor

11.7% - Insurers' Health Trend Factor

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GET MORE INFORMATION

Click here to download the full free 2017 Report Fresh Perspectives on Group Benefits: The Latest Thinking From Plan Sponsors, Members, and Insurers.