Staggering price inflation in PMI

Employers buying medical plans as part of employee benefits will see large increases in the cost of the product over the next few years due to rampant inflation in the cost of medical treatments, according to a new report from group health intermediary Mercer. The report predicted that a company medical plan costing £1m in 2008 will cost £1.6m in 2013. The research, Rising costs, rising concerns: Medical inflation, reveals the price of treatment is rising by 10% each year, nearly three times the Bank of England's current inflation rate of 3.8%, with the cost of providing medical cover t...