Thomson Reuters: Health insurance costs up 4 percent

Posted on: Tuesday, February 07, 2012

The cost of healthcare for individuals who obtain health insurance through their employer rose during the third quarter of 2011, a new survey indicates.

According to the Thomson Reuters Healthcare Spending Index, employer-sponsored health insurance costs increased 4 percent between July and September of last year when compared to the same three-month time period in 2010. It was also up when contrasted with the second quarter of last year but at a much slower 1 percent pace.

"Insurance costs are still on the rise," said Gary Pickens, chief research officer at the Thomson Reuters Center for Healthcare Analytics. "While there has been a slight slow down to the pace of growth, overall rates are still increasing nationwide."

While the results of the poll suggest the increased cost of coverage may have an adverse impact on insurance sales, it may actually stimulate more leads for insurance agents as consumers resort to alternatives to their employer-based plans. Agents should apprise their clients of other health insurance options that may be more affordable for them in the long run.

Posted In: Insurance News, Health Insurance

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