Wednesday, July 19, 2006

The frightening cost of health insurance

Health care for a family of four in the U.S. will cost about $13,382 this year, a 9.6 percent increase from 2005, according to a recent report by Milliman. That indicates health care costs are still rising at a fast pace, despite slowing from double-digit growth in recent years.

In addition, two studies released by Watson Wyatt Worldwide find that many U.S. companies plan to reduce health and pension benefits for current and future employees.

Most companies that provide retiree health benefits "plan to continue," although "retirees should expect to pay more for their coverage," the Watson Wyatt report said.

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