Open Enrollment Update: 4 Health Care Trends That Should Be On Your Radar
By Maria Baugh
This story originally appeared on LearnVest.
Open enrollment season.
Those three words can conjure up images of long and boring HR presentations, endless forms to fill out, and hard-to-decipher health insurance fine print.
And let’s be honest—these days, health plan changes are rarely for the better.
According to a 2016 Segal Health Plan Trend Cost Survey, medical costs will increase for most medical plans, with Fee for Service plans expected to rise 10.4%, and high deductible and Preferred Provider Organization plans rising about 8%. Prescription drug costs are also expected to jump by double digits.
To help keep your blood pressure from rising during this year’s open enrollment period, we asked benefits pros to give us the scoop on four key changes on the horizon in 2016.