July 16, 2024 – Risk Managers

The Medical Industrial Complex Poised To Steal More Of Your Money

PLAN SPONSOR HAS HAD ENOUGH

Medical cost growth will rise to highest level in 13 years; a renewed call to action to address affordability

SOURCE: PWC

Commercial health care spending growth is estimated to grow to its highest level in 13 years, according to PwC’s newest research into annual medical cost trend. PwC’s Health Research Institute (HRI) is projecting an 8% year-on-year medical cost trend in 2025 for the Group market and 7.5% for the Individual market. This near-record trend is driven by inflationary pressure, prescription drug spending and behavioral health utilization.

Reason For Our Health Care Crisis: Government

“All of our major health care programs (Medicare, Medicaid, Obamacare, etc.) came into existence primarily to solve problems created by previous government interventions. And, the reason why there is a continuing push for further reform is because all the programs that are supposed to be solving problems are creating new ones.”

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