Employers and insurers are expecting on average a 6% increase in healthcare costs in 2019, according to a Medical Cost Trend report released in June from PwC’s HRI.
For smaller employers, it will be much higher, likely 10% or more on average.
The hikes have become so problematic for businesses and individuals that some state governments have had to intervene:
“The California Department of Managed Health Care challenged Anthem’s estimates for future medical costs, in particular its prediction of a 30 percent jump in pharmacy expenses for the individual market — nearly double the estimates of two other big insurers and out of line with industry trends nationally.” (Source: Kaiser Health News)
Noveta Health, an OMNIA Partners supplier, has the solution. They have proven strategies that can reverse the unpredictable and continual uptrend in your health costs. Noveta’s health captive and pharmacy benefit manager can reduce your health insurance and pharmacy costs by up to 30%. Contact us today to receive your FREE ASSESSMENT!
Noveta Health and OMNIA Partners believe that by providing companies with best-in-class partners and full transparency into costs, collectively, we can significantly drive down your healthcare and pharmacy costs. Whether you’re fully-insured or self-insured, we strategically address four main cost drivers: Administrative Services, Health Insurance, Pharmacy Services and Supplemental Insurance.