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Scary 13 Year Trend

Iowa Employer Benefits StudyI’ll admit it. I’m somewhat of a self-described GEEK! I love numbers, statistics, trends…I love stories!

That is why I enjoy research. Trends that germinate from research can ultimately tell stories. Iowa has a story…unfortunately, a very common (and scary) story.

One comparison slide that I put together provides a very interesting ‘story’ about what is happening to health insurance rates both in Iowa and nationally. This slide (see below) demonstrates that Iowa is not immune from the disturbing trend that the Kaiser/HRET Survey has revealed for the past thirteen years (1999 through 2011) in the U.S. When I superimpose our Iowa study results with the Kaiser results, the trends are eerily similar. OK, downright scary!

David P. Lind Benchmark

The Kaiser single coverage annual premium (light green bar), has increased by 147 percent from 1999 to 2011. By comparison, the Iowa single coverage annual premium (DPLB Single) increased by 145 percent during that same period. In 2011, the national single premium is about 7.5 percent higher than Iowa’s average single premium. By contrast, the average national family premium is 13.4 percent higher than Iowa’s family premium. If anything, Iowa is fortunate to have lower than average insurance premiums when compared to the rest of the country.

But the trend we see in Iowa employer premiums is alarming. We may have lower premiums than many other states, but our premium growth rate appears to be very comparable to the national average – which is not a flattering compliment to Iowa. It is important for Iowa employers to compete both nationally and globally by having quality health care at affordable costs. Clearly, the trends we see on this particular slide are devastating to employers within and outside of Iowa.

I look forward to continuing this ‘story’ to see how health reform will affect these trends. What is your guess? 

 

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