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Health Care Spending Will Jump In 2014, Fed Forecast Says

06/14/12

  12:49:09 pm, by MedBen5   , 203 words,  
Categories: Announcements

Health Care Spending Will Jump In 2014, Fed Forecast Says

If federal projections are to be believed, the slowdown in the growth of health care spending won’t last too much longer.

The Wall Street Journal reports that the Centers for Medicare and Medicaid Services has forecasted that growth will stay low for two more years, but would increase if most of the Affordable Care Act takes effect in 2014. After that, the rate would drop, but remain at a higher level than that of the past several years.

From the WSJ article: “National health-care spending growth was 3.8% in 2009, the smallest increase on record, and was followed by a similar 3.9% in 2010. Economists in the new report projected similar rises averaging 4% annually for 2011, 2012 and 2013. (Actual 2011 spending hasn’t yet been calculated.)

“Spending would jump 7.4% in 2014 when the health-care law is scheduled to be fully implemented […] Spending growth would slow again starting in 2015 and average 6.2% each year through 2021, the analysts said.”

With the future of health care so uncertain, more than ever it pays to have a knowledgeable benefits management partner. MedBen uses a variety of plan design and cost containment methods to help your business save money, regardless of national spending trends. To learn more, contact Vice President of Sales and Marketing Brian Fargus at 888-627-8683.

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