News Headlines Article

CalPERS approves 7.2% increase in HMO rates as drug costs climb
Los Angeles Times

One of the nation’s biggest healthcare buyers, the California Public Employees’ Retirement System, said its HMO premiums are rising by 7.2% next year as pharmacy costs climb.

Rates for PPO, or preferred provider organization, plans are going up even more at 10.8%, on average, for 2016.

The sharp increases mark a departure from two years of more modest increases of about 3% at the giant pension fund.