Employer Health Insurance Costs Ratcheting Up Globally
Employer-provided health insurance costs will increase by 10.5% around the world this year, a higher percentage than in each of the past two years, says a report by Towers Watson, a global professional services company specializing in healthcare.
By region, insurance in Latin America is expected to increase the most this year, 13.7%, followed by 11.6% in North America, 10.3% in the Middle East and Africa, 10.2% in Asia Pacific and 9.1% in Europe.
The report further divides countries by whether they have advanced versus emerging economies. Countries with advanced economies will have rates that grow by 9.3% while emerging economies are growing at 11.8%.
"Little relief is in sight, with the vast majority of respondents expecting higher medical costs over the next five years."
The survey, which was conducted in September and October of 2010, includes responses from 170 medical insurers in 37 countries.