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Healthcare rates grow slower in November

Posted On Mon, January 23, 2012

A recent report from S&P showed the average per capita cost of healthcare covered by Medicare of commercial insurance types increased in November, but is down from the growth rate in October.

For the 12-month period that ended in November, the average growth rate was 5.13 percent, according to the S&P Healthcare Economic Composite Index. This is a drop from October's rate of 5.29 percent. Specifically, commercial plans increased by 6.96 in November when comparing year-to-date, while the figure was 7.10 percent in October, when comparing the same statistic. Medicare claim cost rate increased by 2.37 percent in November, when October's figure was 2.55 percent, year-to-date.

"After seeing a few months of increasing annual growth rates, particularly across commercial insurance plans, November's data presented us with some moderation in health care costs," says David Blitzer, chairman of the index committee at S&P Indices

Those who are concerned about increases in health insurance rates may want to compare health insurance quotes in order to find something sufficient and affordable.

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