Typical increases in medical insurance rates may be rising back into the double digits.
Researchers at the Council of Insurance Agents and Brokers, Washington, have published figures supporting that conclusion in a summary of the results of the CIAB's latest semiannual benefit broker survey.
CIAB researchers ask for cost change estimates for small accounts with 50 or fewer employees, midsize accounts with 51 to 500 employees, and large accounts with 501 or more employees.
This year only 53% of the large accounts, 42% of the midsize accounts and 21% of the small accounts are enjoying falling prices, flat prices or increases of less than 10%, according to the CIBA.
In 2005, 58% of the large accounts, 50% of the midsize accounts and 32% of the small accounts were experiencing falling prices, flat prices or single-digit price increases.
In the group life market, 63% of small accounts are getting lower rates or single-digit increases. But large and midsize accounts are significantly more likely to be experiencing double-digit price increases this year than they were last year, according to the CIAB survey data.
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