Why does the cost of health care go up faster than inflation?.

Question

02-03-2022
Medicine

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Why does the cost of health care go up faster than inflation?.

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gclandry06 gclandry06 · Answer 1 · 2022-03-11T14:43:38-05:00

Answer:

Higher health care costs in 2018 as well as in 2017 led to a one million person increase in the number of uninsured in each of those years. At the end of 2018, there were 30.7 million uninsured. Health insurance premiums are up, as are deductibles. In 2018, deductibles were $500 higher than a decade earlier, $1,400 as opposed to $900.

The number of people with corporate health insurance–largely employer-based coverage–dropped a bit in 2018. But, the per capita cost of private health insurance rose by 6.7 percent to $6,199 a person. Hospitals, doctors and pharmaceutical companies were able to secure significantly higher rates from insurers, leading to higher insurance premiums.

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