Employee Benefit News September 27, 2022
From groceries to gas, we know that consumers have felt the pinch of inflation as prices rise across goods and services. While several relief efforts are underway to tackle rising costs, it’s important for employers and payers to consider the effect of inflation on the healthcare industry, as increased costs are on their way.
A recently released report from the Kaiser Family Foundation revealed a broader picture of medical care inflation, up a whopping 109% since 2000. And while year over year medical care inflation as measured by the Consumer Price Index saw a modest 3.2% increase, compared to 8.3% of goods and services, employers and payers need to prepare for the impact of wage increases, materials, etc. to hit...
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