Similar to the Property & Casualty markets, the PRISMHealth Program is bracing for the largest increase of industry health insurance costs in over a decade. Many members are challenged with recruitments and retention, and may be forced to pass costs on to employees who are already struggling with inflation outpacing their household income.
At PRISM, we do not take lightly the impact that the rising cost of healthcare insurance is having on public agency budgets and the employees they represent. In order to assist our members in communicating with stakeholders and employees, we have prepared a Healthcare Market Update that outlines what is driving healthcare inflation, how it is impacting the PRISMHealth Program, and steps members can take to manage these costs during this time.
Even in these unprecedented times, the PRISMHealth pool continues to offer more favorable pool renewals than the traditional market and an equitable approach to cost sharing. This yet again confirms that in good times and in bad, we are better together. |
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