Health Beat: Employer-Sponsored Healthcare Costs Jump 6.3% For A Typical American Family

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REPORT: EMPLOYER-SPONSORED HEALTHCARE COSTS JUMP 6.3% FOR A TYPICAL AMERICAN FAMILY
Milliman Inc., a global consulting and actuarial firm, released a study Tuesday noting that employer-sponsored employee costs for a typical American family will increase by 6.3% ($1,456) to a total annual cost of $24,671 in 2015.

The employer pays $14,198 of this and the employee — through payroll deductions and cost sharing at the time of service — pays $10,473, according to the 2015 Milliman Medical Index (MMI). Of this year’s total $1,456 increase, $467 was a result of prescription drugs, a 13.6% increase after a five-year period in which prescription drug costs averaged annual increases of 6.8%.

The Milliman index measures the cost of healthcare for a typical American family of four receiving coverage from an employer-sponsored preferred provider plan (PPO). This year’s 6.3% cost increase follows last year’s all-time low of 5.4%. Most of the components of care analyzed by the index experienced trends in line with recent years, the report said, but the sharp increase in prescription drug costs heightened the overall rate of increase.

To view the complete MMI, go to this link.

SBA TO HOST AFFORDABLE CARE ACT WEBINARS
The Small Business Administration (SBA) and Small Business Majority are hosting free “Affordable Care Act 101” webinars so small business owners can learn the basics of new healthcare regulations and how they can enroll in health insurance marketplaces.

The first online class will begin May 28 at 11 a.m. (PDT) and last one hour. The topics being discussed will include small business tax credits, marketplace updates, cost containment and tools and resources for small business interested in learning more about the law.

Click here to register for the upcoming meeting.

UAMS GRADUATES 931 NEW HEALTH CARE PROFESSIONALS
The University of Arkansas for Medical Sciences (UAMS) awarded certificates and degrees last week to 931 graduates of its five colleges and graduate school during its commencement ceremony at Verizon Arena in North Little Rock.

Diplomas were presented to 157 in the College of Medicine; 260 in the College of Nursing; 111 in the College of Pharmacy; 58 in the Fay W.Boozman College of Public Health; 91 in the Graduate School and 254 in the academic programs that make up the College of Health Professions.

During the ceremony, UAMS Chancellor Dan Rahn, M.D., presented the Chancellor’s Award to M. Joycelyn Elders, M.D. Elders – the 15th U.S. Surgeon General (1993-1994) and the first African-American, the second woman and the only native Arkansan to hold that honored position.

Elders graduated from the University of Arkansas, School of Medicine (now UAMS College of Medicine), and today serves as UAMS Distinguished Professor of Health Policy and Management and UAMS Professor Emeritus of Pediatric Endocrinology. She served as director of the Arkansas Department of Health from 1987-1993.