Healthcare costs see global increases

ARLINGTON, Va., Feb. 7 (UPI) -- Increases in medical costs are out-pacing inflation 81 percent of respondents to a global survey by Watson Wyatt Polls said.

"Rising medical costs have rapidly become a global issue that reaches far beyond the United States and other developed countries," Francis Coleman, senior consultant on international healthcare benefits with Watson Wyatt said.

Nearly three-quarters of respondents -- 71 percent -- based on a survey of 85 insurance companies in Asia, Africa, Europe and the Americas, said they expect, "higher or significantly higher medical cost trends," to continue through 2013, the report said.

With few exceptions, insurance companies in Africa and Asia said they expect medical cost increases to hit double digits in 2008.

"Healthcare is fast becoming the most desired employee benefit worldwide, even in countries that support state-sponsored programs," said Ted Nussbaum, Watson Wyatt's director of North American group and healthcare consulting.