Consumers, Employers Confronting Higher Health Care Costs
Meanwhile, an Associated Press poll finds that college graduates have been hit by the recession - and their health insurance coverage is one of the key indicators.
The Fiscal Times: Survey: Consumers Face Higher Health Care Costs
Employees will be experiencing higher co-pays and deductibles in their health insurance next year as employers continue to reduce their overall coverage to deal with rapidly rising costs. A new survey of 1,700 firms in 30 industries from PwC (PriceWaterhouseCoopers) released Wednesday showed that the cost of this year's health care claims are running slightly ahead of a year ago. As the recession-driven slowdown in discretionary health care spending began to abate, costs rose 8.0 percent compared to 7.5 percent in 2010. The projected increase for next year is 8.5 percent, the survey showed (Goozner, 5/18).
National Journal: Pent-Up Demand Expected To Drive Medical Cost Growth
Employer medical costs are expected to rise 8.5 percent in 2012, up from 8 percent in 2011, in part due to pent up demand from those who delayed care during the economic downturn, according to a report published on Wednesday. Other factors expected to drive up costs: Hospitals and doctors will team up more, reducing competition; and cost-shifting will result as Medicare and Medicaid pay less per patient (DoBias, 5/18).
The Associated Press: Poll Finds Recent College Grads Hit By Recession
A new survey of college graduates from the last five years finds that the Great Recession has hit them hard, forcing them into low paying jobs, often unrelated to their educations and leaving half of them expecting less financial success than their parents. While 85 percent have health insurance coverage, only half have it through work. Nearly one-fourth are covered by a relative's plan (Mulvihill, 5/18).