Two recently released reports indicate that the cost of healthcare will not increase as much as previously expected.  Milliman recently issued the 2013 Milliman Medical Index, showing that the total annual cost of healthcare for a typical family of four covered by an employer-provided plan increased in 2013 by 6.3%.  According to the report, this is the fourth year in a row that the percentage annual increase in medical costs has decreased.  (In 2012, for example, the cost increased by 6.9%.)  However, Milliman further notes that a typical family of four now pays more for healthcare than groceries.

Separately, California announced the estimated prices of health insurance to be offered on its health exchange.  The prices are reported to be lower than were expected.  Covered California, the health exchange for California, stated that rates “for the 2014 individual market ranged from two percent above to 29 percent below the 2013 average premium for small employer plans in California’s most populous regions.”

Print:
Email this postTweet this postLike this postShare this post on LinkedIn
Photo of Robert Newman Robert Newman

Robert Newman represents clients ranging from small employers to some of the nation’s largest employers, including for-profit and tax-exempt entities.  His practice includes designing, drafting, and amending a wide range of retirement plans (including 401(k) plans, ESOPs, and traditional and hybrid defined benefit…

Robert Newman represents clients ranging from small employers to some of the nation’s largest employers, including for-profit and tax-exempt entities.  His practice includes designing, drafting, and amending a wide range of retirement plans (including 401(k) plans, ESOPs, and traditional and hybrid defined benefit plans) and welfare plans (including health, severance, and cafeteria plans); creating executive compensation arrangements including nonqualified deferred compensation plans, stock option plans, and other incentive plans; representing clients before the IRS and the Department of Labor; assisting clients with legislative initiatives; providing benefits expertise in corporate transactions and ERISA litigation; counseling clients with respect to pension fund investments in private equity funds and hedge funds; and negotiating and writing employment agreements.