There are few things in life you can count on with unwavering certainty: death (unless you're a Latin America dictator), taxes (except for Apple and Mitt Romney) and the secret service. Oh, wait a minute….well, there's always those skyrocketing health costs….
But that's not even a sure bet anymore. Based on numbers from the Centers for Medicaid and Medicare Services, during 2009 and 2010, the country's total health care spending grew less than 4 percent annually. That's the slowest rate in 50 years. And, as the New York Times reported, health care spending as a share of overall economic activity actually leveled off in 2010, hovering at just under 18 percent of the gross domestic product.
Before we look at this more closely, I don't mind pointing out the deafening silence this story's received. For all of the bad press health care gets in this country – no matter what the outlet – it's a little surprising the networks aren't all over this story. Aside from a pair of features in the Times, the media (mainstream or otherwise) has largely ignored this fresh batch of data, which should be front-page news if for no other reason than it's something so different than what we've been reporting for years.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.