A boost in health care spending was expected to kick upward in 2015 with the delay of most treatments of consumers during the economic downturn, according to a report released on Tuesday.
Health care spending projected a 6.8% growth, compared to this year’s 6.5%, as reported by the PricewaterhouseCooper’s Health Research Institute.
Compared with the double-digit annual increases in medical inflation before the economic downturn, the expected increase was seen at a modest rate.
Health care spending had been slowing down in the previous years, making the upward shift worth noting, said the Institute’s managing director Ceci Conolly, who is part of the research arm of PricewaterhouseCooper’s health consulting price.
Conolly said the reason behind the growth is burgeoning class of people who can now afford treatments. “Folks who postponed some services—some elective, some more serious—are going ahead and taking care of it,” she said.
In another study, the consulting firm predicted that employers and insurers would continue to raise deductibles while giving members supplementary health care incentives.
It has been observed that most employers increasingly offered plans with deductibles of several thousand dollars, giving the members the responsibility in paying for routine medical costs. This included the often large portions of hospitalizations and other expensive treatment.