Axios - Health care inflation hit a three-year high last month in the latest sign that workers could soon be juggling big premium increases with higher prices for groceries, clothing and other items subject to President Trump's tariffs.
Medical prices have been steadily rising, but corporations projecting hikes of 9% or more next year are no longer willing to insulate their employees from the pain.
Medical care costs rose 4.2%, compared with an overall inflation rate of 2.9%, the Bureau of Labor Statistics said yesterday.
- The cost of doctors' visits increased 3.5%, and hospital and outpatient services rose 5.3%.
The rising costs are being felt beyond workplace insurance; Affordable Care Act marketplace plans are seeking median 18% premium hikes for next year, according to KFF. That's the largest rate change insurers have requested since 2018, they said.
- The insurers cite high-priced drugs, increasing labor costs and general inflation, as well as concern about the expiration of enhanced subsidies that could hike out-of-pocket premiums an average of 75% for over 20 million enrollees.
The bottom line: Inflation is hitting health care harder than the broader economy, setting up a painful year ahead for both patients and employers. MORE
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