Each year we discuss cost trends of where our clients OVERALL premiums have been, and where we see them going. In fact we share these in our April newsletter each year and include the averages on our website. Our average unweighted increase over the past 15 years has been about 4.2% and that includes inflation, trends AND the aging of our groups.
We know that insurers use MUCH higher trend numbers for their calculations, but we work hard to ensure that your actual trends are better reflected the final rates you pay.
This article more accurately reflects what we are seeing and the lack of transparency mentioned, has never been a bigger challenge.
Between 2012 and 2016, Canada’s total private drug claims market increased by a 4.7 per cent compound annual growth rate, according to new research by Innovative Medicines Canada.