By: John Tozzi
October 5, 2022 at 11:47 AM CDT
Health insurance companies are set to raise prices next year faster than medical costs are increasing, according to some Wall Street analysts, adding pressure on US employers already facing severe inflation.
Benefits brokers expect rate increases of 6% to 12%, according to a survey conducted by BofA Global Research. Increases for employers will be higher than usual as inflation and labor expenses get priced into insurance premiums, analysts wrote.