Ann Boynton, CalPERS’ deputy executive officer for benefits, said the latest premium increases stemmed in large part from bigger pharmacy bills.
She said drug costs accounted for nearly 45% of the overall rate increases for both HMO and PPO plans.
“CalPERS endeavors to keep increases as low as possible for members while still providing quality healthcare, but pharmacy pricing presented a high hurdle to get over,” Boynton said.
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