Health Care Premiums Rising Employer Insurance Plans Ask the Expert
Health Care Premiums Rising, Employer Insurance Plans - Ask the Expert...
Photo by Seth Joel/Getty Images Many employers offer financial incentives for workers who try to improve their health. For most organizations, health care costs will rise by 7 percent on average, to $10,475 per employee, compared with $9,792 in 2011. Although employers will fund most of that cost, employees are projected to contribute $2,306 on average in premiums, an increase of nearly 11 percent over this year, the study says. And that doesn't include the average $2,275 employees will pay in out-of-pocket costs to providers in 2012.
There are steps you may be able to take to offset the higher expenses. For instance, many employers offer financial incentives for workers who try to improve their health. Check to see if your employer sponsors health risk assessments, cholesterol screenings and other programs to help you manage chronic conditions or to quit smoking — if you take part, you could get enhanced medical coverage or reduced premiums. The best advice for workers during : Make sure you understand the coverage plans available and how they may have changed, and evaluate your choices. Here are a few tips to get you started: Get a grasp of your out-of-pocket expenses by reviewing how much you spend on copayments, how often you typically visit the doctor and the cost of medications you take on a regular basis. If you have a flexible spending account or other tax-free account for medical expenses, evaluate whether you've been contributing too much or too little based on your actual expenses. Now that the health care reform law allows you to get coverage from your employer for adult children through age 26, in most cases, consider whether you'll want to do that. Don't assume your current coverage remains the right choice for you. Changes to deductibles and policy provisions may no longer meet your needs. Choose a policy that best fits your current particulars. Also of interest: Carole Fleck is a senior editor at the AARP Bulletin. Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures
Are Health Care Premiums Going Up Again
Employees could pay 11 percent more next year
Q. It's getting close to the time of year when employees at my company have to choose between health care plans for next year. It seems every year I end up paying higher premiums. Will that be the case for 2012? A. Most likely. According to a released in October by the financial services and consulting firm Aon Hewitt, both you and your employer will be paying more for your medical plan next year. See also:Photo by Seth Joel/Getty Images Many employers offer financial incentives for workers who try to improve their health. For most organizations, health care costs will rise by 7 percent on average, to $10,475 per employee, compared with $9,792 in 2011. Although employers will fund most of that cost, employees are projected to contribute $2,306 on average in premiums, an increase of nearly 11 percent over this year, the study says. And that doesn't include the average $2,275 employees will pay in out-of-pocket costs to providers in 2012.
Related
There are steps you may be able to take to offset the higher expenses. For instance, many employers offer financial incentives for workers who try to improve their health. Check to see if your employer sponsors health risk assessments, cholesterol screenings and other programs to help you manage chronic conditions or to quit smoking — if you take part, you could get enhanced medical coverage or reduced premiums. The best advice for workers during : Make sure you understand the coverage plans available and how they may have changed, and evaluate your choices. Here are a few tips to get you started: Get a grasp of your out-of-pocket expenses by reviewing how much you spend on copayments, how often you typically visit the doctor and the cost of medications you take on a regular basis. If you have a flexible spending account or other tax-free account for medical expenses, evaluate whether you've been contributing too much or too little based on your actual expenses. Now that the health care reform law allows you to get coverage from your employer for adult children through age 26, in most cases, consider whether you'll want to do that. Don't assume your current coverage remains the right choice for you. Changes to deductibles and policy provisions may no longer meet your needs. Choose a policy that best fits your current particulars. Also of interest: Carole Fleck is a senior editor at the AARP Bulletin. Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures