Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance

Study: Health Plan Price Hikes Hurting Benefits

Your article was successfully shared with the contacts you provided.

NU Online News Service, May 3, 1:16 p.m. – The California HealthCare Foundation, Oakland, Calif., says higher health coverage prices are starting to have a noticeable effect on the health benefits packages offered by California’s small employers.

Employers are increasing co-payments and deductibles, and they are also adding more “multi-tier” provider programs. The multi-tier programs offer richer benefits to plan members who see what the carriers hope will be lower cost doctors and hospitals.

Contracts are often written in such a way that purchasers have no idea how much the carriers will really end up paying, the California foundation says.

Meanwhile, in the individual market, carriers are imposing maternity co-payments of as much as $1,000; cutting the amounts paid for well-baby care; and raising annual out-of-pocket maximums for in-network providers to as much as $4,000 for a single person, the California foundation says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.