Although medical costs increase yearly, next year’s boost is projected to be 6.5%, down from the 7% estimated for this year, according to a report from global accounting firm PwC that was released Wednesday.
The cost trends report has been released annually for the past 15 years. For it, PwC’s Health Research Institute speaks with actuaries at U.S. health plans and health care executives to estimate factors that inflate and deflate prices.
The 6.5% rate represents a reversal of a climbing trend, according to the report. The rate of increase has ticked up since 2017; in the previous decade, the rate had been dropping. Increases have been gradual from 2017
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