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Report: Annual growth rate of healthcare costs on the rise

Posted On Fri, November 18, 2011

A recent report from S&P Indices found that the costs of U.S. healthcare have risen for the fifth straight month when examining annual growth rates.

The cost of healthcare increased by 5.75 percent in September, a minor jump over the 5.71 percent annual growth rate from August, according to the S&P Healthcare Economic Composite Index. The figure has increased each month since April, when it was recorded at 5.32 percent.

"As we enter the fall, we continue to see the summer trends of a deceleration in the annual growth rates of Medicare costs, while those of commercial costs continue to moderately accelerate," says David Blitzer, chairman of the Index Committee at S&P Indices. "With September's data, both the Composite and Commercial Indices posted five consecutive months of accelerating annual growth rates."

The increase in healthcare growth rates may be minimal, but it could mean an increase in health insurance rates. Consumers may want to act now and compare health insurance quotes to ensure they have the lowest rate possible.

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