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CalPERS sees payoff from health cost cuts.(News)(California Public Employees' Retirement System)
Business Insurance, June, 2005 by Ceniceros, Roberto
Byline: ROBERTO CENICEROS SACRAMENTO, Calif.-The California Public Employees' Retirement System said last week that its strategy for attacking cost drivers has paid off, with health plan premium increases that averaged just 8.9% for its 2006 purchases. The Sacramento-based retirement system also said it negotiated health maintenance organization rate hikes averaging 8.7% for 2006-the smallest HMO increase for CalPERS since 1999.
The 2006 rates, though, include a 9.5% increase for self-funded preferred provider organization plans, up from a 6.4% increase for 2005 coverage. Those single-digit increases are a dramatic contrast to just a few years ago, when CalPERS, like most other health care purchasers, was hit with dramatic rate increases. Those increases...
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