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Slow Health Care Cost Growth In 2014, Report Says

06/18/13

  12:56:49 pm, by MedBen5   , 228 words,  
Categories: News, Health Plan Management

Slow Health Care Cost Growth In 2014, Report Says

Health care costs will see slow growth next year, according to a new report by the accounting and consulting firm PwC.

The Associated Press reports that the recend trend of lower cost increases will continue, in spite of an improving economy and the prospect of millions of additional Americans receving coverage under the Affordable Care Act, Any cost spikes, the report says, should be contained within a relatively narrow market segment.

“There are some underlying changes to the system that are having an impact, and we can expect lower increases as we come out of the recession,” said Mike Thompson of PwC’s Health Research Institute, which produced the study. Cost “is still going up, but not as much as it used to.”

The report pointed to several specific factors influencing downward costs, including increased use of clinics in retail stores and higher employee deductibles. Conversely, the high cost of specialty drugs to treat chronic illnesses will keep cost increases from going even lower.

Regardless of national trends, MedBen can work with you to develop a health care plan that keeps cost increases low without sacrificing desired benefits. And our compliance team will help to keep you informed of regulatory developments that may affect your plan design, as well as your bottom line. To learn more, call Vice President of Sales and Marketing Brian Fargus at bfargus@medben.com.

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