Survey: HMO rate increases are highest in 11 years. (Briefing).Preliminary results from a health maintenance organization survey show rates will continue at a double-digit increase into 2003, with an average increase of 17% across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . It's the biggest increase in more than 10 years, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. data from Milliman USA. Millimans 11th annual HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, Intercompany Rate Survey asked chief financial officers at 400 HMOs that serve the commercial employer market about their anticipated rate increases for January 2003 renewals, said Steve Cigich, author of the study and a consulting actuary actuary One who calculates insurance risks and premiums. Actuaries compute the probability of the occurrence of such events as birth, marriage, illness, accidents, and death. . Of the 100 that responded, 95 expected increases higher than 10%, and more than 70 of the respondents said increases would be higher than 15%. The increases reflect higher provider expenses and rising consumer demand, Milliman said. It's the biggest annual increase Milliman has reported since the company started doing the survey 11 years ago, Cigich said. |
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