Massachusetts Meets Self-Imposed Goal In Controlling Health Spending, But Consumers’ Cost Burden Worries Experts
For individuals with private insurance, out-of-pocket costs increased 6.1 percent and premiums rose 5.2 percent over the past two years, outpacing wages and inflation. “So, that’s the second year in a row that the cost to individuals, if you will, was rising faster than the cost of the overall system,” says Ray Campbell, executive director of the state Center for Health Information and Analysis
Boston Globe:
Massachusetts Contains Health Care Costs, But Consumers Keep Paying More
Massachusetts met its self-imposed goal of controlling the growth in health spending last year, according to a new state report — but the cost burden on consumers continued to rise at a worrying pace. Statewide health care spending grew to an estimated $60.9 billion in 2018, or $8,827 per person, according to the study from the state Center for Health Information and Analysis. That’s a 3.1 percent increase from the previous year and in line with the state benchmark for controlling spending. (Dayal McCluskey, 10/8)
WBUR:
Mass. Meets Goal To Curb Health Care Spending, But Insurance Premiums Continue To Rise
In 2018, the preliminary numbers show, Massachusetts spent $60.9 billion on health care, or about $8,827 per person. That's a 3.1% increase over what the state spent in 2017, exactly the target ceiling, which is based on the state’s projected economic growth. “The largest contributors to increases in health care spending were hospital services, physician services and prescription drugs,” says Ray Campbell, CHIA's executive director. (Chen, 10/8)
In other health spending and industry news —
Modern Healthcare:
Waste Accounts For One-Quarter Of Healthcare Spending
A new study found waste accounts for roughly one-quarter of all U.S. healthcare spending, an estimate that's in the same ballpark as its predecessors. The cost of waste in the U.S. healthcare system ranges from $760 billion to $935 billion annually, according to a JAMA review of 54 peer-reviewed studies, government reports and other information, released Monday. The study found one-quarter of that could be cut using interventions found to reduce waste. (Bannow, 10/7)
Modern Healthcare:
Strong September Healthcare Hiring Behind Low Unemployment Rate
Strong healthcare hiring helped push the overall unemployment rate to a historic low in September. Healthcare added 38,800 jobs last month, making up nearly 30% of overall hiring and contributing to a lower, 3.5% unemployment rate. The U.S. unemployment rate hasn't been this low since December 1969, according to preliminary data from the U.S. Bureau of Labor Statistics' September jobs report, released Friday. (Bannow, 10/4)
