Healthcare spending grew 4 percent in 2012 for privately insured individuals under 65, down slightly from a 4.1 percent growth rate in 2011, according to a report from the Health Care Cost Institute.
The report — which analyzed private insurance claims data from 2009 to 2012 representing more than 25 percent of the privately insured population — found spending per person with employer-sponsored coverage averaged $4,701 in 2012, up $181 from 2011. Outpatient care accounted for 45 percent of the spending increase, according to the report.
Other key findings from the report include the following:
· Out-of-pocket spending increased by 4.8 percent to $768 per person in 2012.
· Spending on outpatient services grew the fastest at 6.5 percent, while spending on inpatient treatment grew the slowest at 2.4 percent, compared with other medical services categories.
· Generic prescription drug prices went up by 5.3 percent and spending on generic medications grew by 13.5 percent to $277 per person in 2012. Meanwhile, brand name prescription spending dropped 0.6 percent.
· Spending increased at a faster rate for people aged 19 to 25 than for any other age group, climbing 5.4 percent. The oldest adults — those aged 55 to 64 — experienced the lowest growth rate of 2.5 percent.
· Spending for women grew at a rate of 4.2 percent to $5,246 per capita, while spending for men increased by 3.7 percent to $4,125.
· Per capita healthcare spending was the highest in the Northeast at $4,868, while the West saw the lowest expenditures at $4,382 per capita. Additionally, out-of-pocket spending increased by 5.5 percent in the
Read the full report here.
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