Contrary to what you think, health care costs are actually not soaring

December 4, 2014 7:16 AM

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Contrary to what you think, health care costs are actually not soaring

Though it is common to hear everyone complain about rising costs of health care, reality is far from it. Officials said on Wednesday that national health spending grew by 3.6% in 2013 to reach $2.9 trillion, which is the lowest annual increase since 1960, when the Centers for Medicare and Medicaid Services began tracking the statistic.

The report, published online by the journal Health Affairs, points out that spending for private health insurance, Medicare, hospitals, physicians and clinical services and out-of-pocket spending by consumers has slowed down, but has shot up for Medicaid and for prescription drugs.

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