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American healthcare costs increase

Posted On Fri, September 16, 2011

A recent report from S&P Indices found that the average cost of healthcare services per capita for commercial and Medicare insurance programs increased by 5.71 percent for the year ending in July 2011.

This is the third straight month that the S&P Healthcare Economic Composite Index witnessed an increase. It was 5.34 percent during April 2011, 5.55 percent in May and 5.59 percent in June. The Healthcare Economic Commercial Index increased 7.73 for the year ending July 2011. Overall, Medicare claim costs increased by an annual rate of 2.35 percent. The index also noted that Medicare is more than 5.6 percent lower than its top annual growth rate of more than 8 percent, which occurred in November 2009.

"Continuing the general trend witnessed since April, July saw some modest acceleration in the annual growth rates in commercial healthcare costs, while there was modest deceleration in Medicare costs," said David Blitzer, chairman of the Index Committee at S&P Indices."

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