Tag: healthcare spending
High-Deductible Health Insurance Crushes Health Spending

A new working paper published by the National Bureau of Economic Research (NBER) shows how much high-deductible health plans reduce spending: We study consumer responsiveness to medical care prices, leveraging a natural experiment that occurred at a large self-insured firm which forced all of its employees to switch from an insurance plan that provided…
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Data Show Deflation Except in Health Care (Again)

I admit this is getting a little repetitive, but it is not my fault the Bureau of Labor Statistics releases the Consumer Price Index one day after the Producer Price Index. The CPI confirms (once again) the price behavior indicated by yesterday’s PPI. While consumer prices were down 0.2 percent, month on month, and…
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Health Jobs Dominate Terrible Jobs Report

No good words were used to describe last week’s Employment Situation Summary: “Every aspect of the September jobs report was disappointing,” wrote Michelle Girard, chief U.S. economist at RBS (quoted in Forbes). This is largely a repeat of the August jobs report, although those and previous months’ figures were also revised downwards. One-quarter of…
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Producer Price Index: Big Gap in Hospital Inpatient & Outpatient Prices

August’s Producer Price Index was flat, month on month, and dropped 0.8 percent, year on year, continuing the trend we saw in July. Producer prices for health goods and services are rising faster than other producer prices (see Table I). Outside health care, goods for both final and intermediate demand declined from July. Although…
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Health Spending an Increasing Share of GDP

Last week’s third estimate of Gross Domestic Product for the second quarter confirms that growth in health spending might be moderating somewhat from its initial Obamacare-fueled rush. Unfortunately, it is not a clear break in the trend of health spending consuming an increasing share of our national income. Current GDP grew $264.4 billion, or 1.5 percent,…
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Health Plan Deductibles Grew Seven Times Faster Than Wages

The Kaiser Family Foundation just released its 2015 Employer Benefits Survey: Single and family premiums for employer-sponsored health insurance rose an average of 4 percent this year, continuing a decade-long period of moderate growth, according to the Kaiser Family Foundation/Health Research & Educational Trust (HRET) 2015 Employer Health Benefits Survey released today. Since 2005, premiums…
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Health Spending Growth Moderate in Second Quarter (Maybe)

A recent report by actuaries working for the Centers for Medicare & Medicaid Services estimates that the rate of growth of health spending, subdued for many years, is picking up again: “The health share of US gross domestic product is projected to rise from 17.4 percent in 2013 to 19.6 percent in 2024.” Readers of this…
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Health Spending as a Share of Personal Consumption Keeps Rising

Where is your money going? Increasingly, the answer is health care. This morning’s third estimate of first quarter Gross Domestic Product (GDP) was not as awful as previously estimated – a real decline of 0.2 percent, not 0.7 percent. The overall drop of $7 billion was driven by a decline in exports and nonresidential…
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Why We Are on an Unsustainable Path

To people who subscribe to the health policy orthodoxy, the riddle of modern healthcare is: Why are health costs rising so fast? To me the riddle is: why isn’t health spending rising even faster? As I write in my recent book, Priceless: Curing the Healthcare Crisis, every time you and I spend a dollar at…
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