Are Healthcare Costs Stabilizing

Post date: Sep 25, 2017 2:1:54 PM

According to the 2017 Milliman Medical Index Report the average cost for a family of four increased 4.3%. This amount is a dramatic decrease from the double digit increases employers and employees have faced over the last several years. While there is still work to be done by employees to improve their consumer habits for medical choices there are some areas still outside of their control. According to the Milliman Report, total hospital expenses grew only 3.9%, the lowest rate since 2001. Additionally, prescription expenses continue to a major driver of expenses. It would be wise for employers when evaluating their renewal contracts to have a third party analyze this line of coverage for cost savings. The entire report can be found here 2017 Milliman Medical Index Report