PHILADELPHIA--(BUSINESS WIRE)-- According to Sherlock Company’s poll of 69 health plans, premium rates for groups are expected to climb by 7.2% and by 10.8% for individuals in 2016. The health care cost trend is expected to be 6.6% for groups and 11.9% for individuals. Sherlock Company estimates that the proportion of health insurance coverage directly paid by consumers as opposed to benefit plan sponsors will increase by 11.0% for groups and 15.6% for individuals, though the latter largely refers to out-of-pocket cost sharing expenses. Because of “buy-downs” actual premium rate increases are expected to be lower.
Sherlock Company surveyed the 69 health plans in September and October. The plans responding collectively serve 51 million Americans or approximately 24% of people under 65 covered by private health insurance.
The results are summarized in Sherlock Company’s Twenty-First Annual Health Plan Pricing Survey. Additional information, such as regional trends for premiums, health costs and cost sharing are available through Sherlock Company.
Sherlock Company (www.sherlockco.com), based in North Wales, Pennsylvania, provides informed solutions for health plan financial management. Since its founding in 1987, Sherlock Company has been known for its impartiality and technical competence in service to its clients.
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Sherlock Company
Douglas B. Sherlock, CFA
215-628-2289
sherlock@sherlockco.com
Source: Sherlock Company
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