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Employer insurance premiums increasing at drastically lower rates than individual plans — 4 insights

A survey, conducted by Mercer, reports although employer-sponsored health insurance rates are rising, increases are nowhere proportional to individual plans, the PlanSponsor reports.

Mercer conducted a nationwide survey of 2,481 employers to collect health plan information.

Here's what you should know:

1. Nationally, employer-sponsored plan premiums rose by 2.6 percent in 2017, which was only a 0.2 percent increase year-over-year.

2. Although insurance costs are rising, costs for healthcare are decreasing: Between 2007 and 2013, the rise in healthcare costs averaged 6.2 percent, and between 2013 and 2017, the rise in costs has averaged 3.3 percent.

3. Employers were able to contain premium costs by offering transparency tools and allowing for people to compare the cost of different plans and services.

4. For example, telemedicine services drastically lowered healthcare costs. A normal office visit costs a patient $125, while a visit conducted via telemedicine is only $50.

More articles on coding, billing and collections:
CMS 2018 final payment rule increases ASC reimbursement 1.2%, less than proposed: 5 things to know
Creating a competitive edge at your facility: The patient experience
3 thoughts on how changes in outpatient surgical codes, reimbursement affect ASCs

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