Sunday, February 5. 2012
Health insurance recipients witnessed overall healthcare expenses increase during the third quarter of 2011, according to Thomson Reuters.
The Healthcare Spending Index for Private Insurance showed the third quarter witnessed a healthcare cost increase of 4 percent during the third quarter of 2011 compared to the same point in 2010. When compared with the previous quarter, the figure increased by 0.9 percent.
"Insurance costs are still on the rise," said Gary Pickens, chief research officer at the Thomson Reuters Center for Healthcare Analytics. "While there has been a slight slow down to the pace of growth, overall rates are still increasing nationwide."
Hospital costs rose 5.9 percent year-over-year, while physician costs increased 2.9 percent, according to the index. Drug costs rose 1.3 percent, as well.
Health insurance rates could increase with this information, so it may benefit consumers to explore various health insurance quotes. This could ensure that a person finds a plan that works for them and still is able to afford to make the payments for it.