Do you know which illnesses are driving up health insurance costs?
Currently any form of cancer, incl.breast cancer (which equals about 4% of all insurance policyholders), premature babies, ongoing chronic conditions, heart attacks, strokes, dialysis, ventilators, diabetes, and treatment including drugs, therapies, tests, and more, quickly add up and equal 75% of U.S. medical costs.
Respiratory failure requiring a person to be on a ventilator is currently the most expensive treatment.
For the young and healthy, premature babies and extended hospital stays and bedrest create some of the highest charges.
And on average, maternity care now costs about $9,000 on average per baby.
Diabetes is a problem for 2-3% of all current health insurance plans insured, and equals about $10,000 per person, per year.
More for the Center for Disease Control here: http://www.cdc.gov/workplacehealthpromotion/businesscase/reasons/rising.html
How to address or anticipate these chronic cases if you are considering self-insuring your health plan? If you have staff assigned overseas or volunteering overseas or are on support? How much reserves do you need? There is no one set answer since each groups’ size and age and claim history will change the equation. That’s why experience is important. And why you need to work with experts that know the international market which is vastly different.