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Article Excerpt
Initial premium rates(1) for health maintenance organizations (HMOs) will increase by double digits in 2008, according to an analysis from Hewitt Associates, a global human resources services company.
Data from Hewitt Health Resource[TM] (HHR), a Web site that captures HMO rate information for approximately 160 large companies with more than one million employees and annual premiums of $3 billion, indicates that initial HMO rate increases for U.S. companies that have begun to negotiate rates for 2008 are averaging 14.1 percent, compared to 11.7 percent in 2007 and 12.4 percent in 2006.
Historically, final confirmed rates (after negotiations, plan design changes, and plan terminations) have averaged three to five percent less than the initial HMO premium rates. For example, final average HMO rates increased by 8.2 percent in 2007, compared to the initial rate of 11.7 percent.
There are a number of factors that may be driving the higher increase in...
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