A survey of insurance brokers has found rates for most of their clients' group medical benefit plans increased by more than 10 percent, but another study indicates there may be some relief in sight for next year.
The Washington, D.C.-based Council of Insurance Agents & Brokers released its twice yearly “Employee Benefits Market Survey” yesterday. The survey of 105 members found that small and medium-size accounts witnessed the sharpest rate increases, while large accounts experienced slightly less increases.
For small accounts, of 50 or fewer employees, the survey said 50 percent of their clients saw rates increase between 11- and 15 percent since May of 2006. For medium-size accounts, with 51-to-500 employees, 42 percent experienced rate increases in this range.
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