CPI: Medical Care Prices Rose 10 Times More Than Non-Medical Prices in August
The Consumer Price Index rose 0.2 percent in August. Medical prices, however, continued their upward march, increasing by one full percent – 10 times more than non-medical consumer goods and services. If prices for medical care had been flat, the CPI would have risen by just 0.1 percent. Hospital services, prescription drugs, and health insurance stand out even within medical care. Price increases for medical care have contributed 42 percent of the overall CPI increase.
Over the last twelve months, prices for medical care have increased seven times faster than prices for non-medical items in the CPI. Price increases for medical care have contributed 36 percent of the overall CPI increase.
Many observers of medical prices decline to differentiate between nominal and real inflation. Because CPI is flat, even relatively moderate nominal price hikes for medical care are actually substantial real price hikes. More than six years after the Affordable Care Act was passed, consumers are seeing no relief from high medical prices, which have increased over twice as much as the CPI less medical care since March 2010, the month President Obama signed the law.
(See Figure I and Table I below the fold):
Health insurance premiums are sky-rocketing on the Exchanges, 20% – 62% in 2017. Plus, the rapid rise in the deductibles workers must pay makes it even harder for poor hard working American families.
America needs change from the rat hole that Obama, Hillary and Democrats are dropping all good Americans into. Socialism never works and Hillary might lead the Democratic Party into ruin.
Obamacare cannot be repaired it must be replaced with common sense free market Republican ideas by SuperTrump and the American way.
http://www.iamtrump.org/2016/01/super-trump.html
Fort Worth Collapse — Blue Cross Blue Shield of Texas will be the sole player in the ACA marketplace here, making Tarrant County the largest metro area in the state down to one participant.
In addition, Blue Cross plans to significantly raise its 2017 premiums in Texas for ACA policies an average of 58 percent, according to a filing at Healthcare.gov.
http://www.star-telegram.com/news/business/biz-columns-blogs/teresa-mcusic/article102235872.html
We need President SuperTrump to make America’s health insurance market GREAT again.
Health insurance INFLATION is coming 10, 9, 8, 7, 6, …
[…] medical prices rose a smidgen less, at 0.2 percent. This is a big breather from August, when increases in medical prices were dramatic. Nevertheless, both prescription and non-prescription drugs increased prices by 0.8 percent. Prices […]