Thursday, July 19. 2012
A report from S&P Dow Jones Indices showed that healthcare costs increased during the year ending in May, but was a slower rate of growth than the previous month's rate.
The S&P Healthcare Economic Composite showed that those services under commercial and Medicare health plans rose by 6.05 percent during the year ending in May, which was slightly lower than April's figure of 6.11 percent. However, the latest rate was still higher than most of 2011 and 2012.
"Most of our Healthcare Indices' annual growth rates decelerated in May 2012 from what we published for April," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. "In May, six of the nine indices we publish saw a deceleration in their annual growth rates."
While healthcare costs experienced a slowing in growth rates, it is important for patients to realize that this can make health insurance rates increase. However, by comparing multiple health insurance quotes, it may be possible to find a plan that is affordable and sufficient.