Thursday, September 22, 2011

Healthcare costs see lower growth rate for 2012

For the first time in several years, healthare costs will only grow 7.1%, whereas over the last few years 9% has been the standard since 1997.  A few reasons for this, according to the Los Angeles Times, is the fact that many patients are staying away from doctors in the poor economy in addition to more health education which is keeping patients away from the emergency room.   Employers have also been making cost-cutting efforts by moving workers into lower-cost health plans or slashing expenses by raising insurance deductibles.

However, the cost cutting will still outpace of the growth earnings, which will leave employers with a need to find a way to cover the costs.  This will likely be through higher deductibles and copays.

What can employers and patients to next year to continue to slow the cost of growing healthcare rates?

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