Although costs will grow next year, they won't grow so fast as in 2004, according to a new report issued by the Segal Co., an actuarial and consulting concern. The 2005 Segal Health Plan Cost Trend Survey predicts that increases for prescription drug coverage will decelerate in 2005, but still remain significantly above general inflation and wage increases, according to the report.
While increases are expected in 2005, the findings of this survey indicate that the pace of the increase has slowed. The survey finds that variations in rates by plan type will continue to be modest. All types of managed care, excluding prescription drug benefits, will be about the same, but prescription drug carve-out coverage will be healthier than all other coverage categories.
SOURCE: 2005 SEGAL HEALTH PLAN COST TREND SURVEY, THE SEGAL CO.