Health Care Costs Increase At A Slower Rate For Large Employers In Wisconsin

Health Care Costs Increase At A Slower Rate For Large Employers In Wisconsin in Group Health Insurance

For the first time in a decade, the health care costs for large businesses in Wisconsin will increase slower than medical inflation.

Costs will increase by 3.7 percent for this year and medical inflation is just over 4 percent, reported the Milwaukee Journal Sentinel.

The 3.7 increase in costs is quite an achievement for the state’s large companies, considering health care costs increased an average of over 6 percent nationwide.

Towers Perrin, a benefits consulting firm, conducted the employee survey and analysis that found the data for Wisconsin big businesses.

According to their report, the main reasons for the slower cost increase among large employers include higher deductible health insurance plans, wellness programs, and incentives for workers to quit smoking and practice healthier lifestyles.

The Towers Perrin report, however, found that even though health care costs were increasing at a slower rate, the overall costs were still high.

But any health care cost slowdown is definitely a good thing.

“They’ve made a lot of effort to control overall costs, and those efforts are paying off,” said Towers Perrin chief actuary, Dave Osterndorf.

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