Expect Some New Cost Trends in Health Care for 2010

Posted in Health Care , Health Insurance

December 30th, 2009

We already know that Congress is working tirelessly to crank out the new health care reform that is expected to manage costs; in the meantime, you could expect some new trends in costs that you may not be happy with. According to a new Money Magazine article, as wells as a recent report from Hewitt Associates, the costs may be way more than you may have anticipated.

Health Care Costs to Increase

We already reported in Nov. 2009 that Towers Perrin predicted increased health care costs in 2010; however, it appears the predictions are now becoming a reality. According to the Money Magazine article, the managing editor, Pat Regnier, saw that his annual health-insurance premium for him and his wife was $1,600 higher for 2010 with higher deductibles.

Also, he noted that instead of being offered co-pays, he would have to pay co-insurance – a share in the total costs – in the new year. He found this news to be astonishing because the plan was provided by a Fortune 500 company that spends a lot on health plans for its employees.

Hewitt Associates Says to Expect New Trends

According to human-resources consultant Hewitt Associates, don’t think that Regnier’s experience is isolated. You could expect to see increases in your premiums as well. In fact, the consultant said that on average, a large-company employee might expect to pay as much as $4,023 in premiums and out-of-pocket costs in 2010, which is a 10 percent increase from 2009.

Also, as Regnier found, Hewitt Associates revealed that many employers plan to shift from co-pays, which allow for you to pay a small portion of your doctor’s visit costs, to co-insurance. This means that you’ll actually get a truer image of just what a doctor’s visit costs.

It’s tough to say when Americans will be able to take advantage of the supposed benefits of the health care overall that is still circulating through Congress. But there’s no doubt that nearly every person paying for health insurance hopes that the costs associated with health care will for once begin to decrease.

Have you seen an increase in the costs associated with your 2010 health care benefits?