Health care is still eating the economy

  • Rapid growth in the cost of U.S. health care has put sustained downward pressure on wages and incomes.
  • [inlinetweet prefix=”” tweeter=”” suffix=””]Healthcare prices are still rising faster than overall prices.  Premium prices in the employer-sponsored insurance system have risen rapidly over the past two decades[/inlinetweet]
  • Prices have risen, allowing healthcare providers and insurers to extract a rising share of economic output.
  • Among industrialized nations, the U.S. has the highest health care costs and below average quality and utilization.

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Rising out-of-pocket costs

KEY TAKEAWAY: TransUnion Healthcare found [inlinetweet prefix=”” tweeter=”” suffix=””]patients’ average out-of-pocket costs rose to $1,813 in the fourth quarter of 2017, up 11 percent from $1,630 in the same period the year prior.[/inlinetweet] The analysis also broke down the amount of patient out-of-pocket costs. TransUnion Healthcare said researchers found, on average, nearly half of patients out-of-pocket costs per healthcare visit (49 percent) were lower than $500 in 2017. Thirty-nine percent were $501 to $1,000; and 12 percent exceeded $1,000. Continue reading