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The United States spends more on health care now than 20, 30 or 50 years ago. In 1970, health care made up 7% of the nation’s Gross Domestic Product. In 2023, it ate up nearly 18% .
The cost of job-based health care coverage for 2024 is expected to ... 800-290-4726 more ways to reach us. ... which projects employer costs will go up 6.4% for 2024, compared to 6% for this year ...
Benefit consultants from Mercer, Aon and Willis Towers Watson see employer healthcare costs jumping 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and ...
[48] [49] Assuming $3.2 trillion is spent on healthcare per year, a 10% savings would be $320 billion per year and a 15% savings would be nearly $500 billion per year. For scale, cutting administrative costs to peer country levels would represent roughly one-third to half the gap.
This cost-spreading mechanism often picks up much of the cost of health care, but individuals must often pay up-front a minimum part of the total cost (a deductible), or a small part of the cost of every procedure (a copayment). Private insurance accounts for 35% of total health spending in the United States, by far the largest share among OECD ...
Published in the journal Health Affairs, the study found "...After accounting for general inflation, family incomes remained stagnant between 2004 and 2006, while out-of-pocket spending on premiums and health care services increased 8.5% over the two-year period. Overall, total out-of-pocket spending increased, on average, about 5 percent ...
Citing a recent Mercer report, Reuters noted that employer healthcare costs are expected to jump 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and ...
The 2024 presidential election is weeks away, and healthcare is expected to be a key issue for voters as they head to the ballot box.. The overall cost of healthcare remains a major problem ...