‘People are spending more money than ever on their health care, often with expensive insurance plans that don’t pay for everything. This is why Health Care Sharing Ministries make more sense than ever. Christians can save money, stay out of debt and have more medical options’

WASHINGTON — Commercial healthcare spending is estimated to grow to its highest level in 13 years, with PwC’s Health Research Institute (HRI) predicting in a new report “an 8% year-on-year medical cost trend in 2025 for the group market and 7.5% for the individual market,” according to Healthcare Finance.

“This near-record trend is driven by inflationary pressure, prescription drug spending and behavioral health utilization, the report claimed.”

“It never stops. People are spending more money than ever on their health care, often with expensive insurance plans that don’t pay for everything,” says Katy Talento, executive director of the Alliance of Health Care Sharing Ministries (The Alliance, ahcsm.org).

This is why Health Care Sharing Ministries make more sense than ever. Christians can save money, stay out of debt and have more medical options.”

HRI said 2023 and 2024 medical cost trends will be higher than previously reported based on the input of surveyed health plans. This reflects higher-than-expected utilization of GLP-1 drugs as well as higher acuity inpatient and outpatient utilization.

“Inpatient and outpatient use were driven by demand from care deferred since the pandemic, which was met by newly created capacity as sites of care shifted to outpatient, professional and ambulatory care settings,” Healthcare Finance said.

“Continued inflationary pressure is expected to persist into 2025 as providers look for margin growth and work to recoup rising operating expenses through health plan contracts,” HRI found.

“The costs of GLP-1 drugs are on a rising trajectory that impacts overall medical costs. Innovation in prescription drugs for chronic conditions and increasing use of behavioral health services are reaching a tipping point that will likely drive further cost inflation,” the authors said.

The hospital and related services index saw a significant uptick in the most recent two quarters, hitting 6.3% growth in the fourth quarter of 2023 relative to the fourth quarter of 2022.

“We shouldn’t be surprised at the prospect of increasing expenses across the medical spectrum,” Talento says. “Inflation continues to add to already inflated prices for consumers in everything, and health care services are no exception.

“The Alliance of Health Care Sharing Ministries has long advocated negotiating better prices and having more transparency in health costs of all kinds, from drug prices to medical treatments to hospital stays.” 

 “Christians who aren’t happy with current health care choices have an attractive, affordable non-insurance option that is consistent with their values,” says Talento. “Health Care Sharing Ministries offer less cost, less red tape and more choices for health care consumers. In addition, members can live out the biblical admonition to show love for one another in practical ways, such as helping with each other’s medical expenses along with prayers and encouragement.”

Founded in 2007 and headquartered in Washington, D.C., the Alliance of Health Care Sharing Ministries is a 501(c)(6) trade organization representing the common interests of Health Care Sharing Ministries which are facilitating the sharing of health care needs (financial, emotional, and spiritual) by individuals and families, and their participants. The Alliance engages with federal and state regulators, members of the media, and the Christian community to provide accurate and timely information on health care sharing.

To learn more about the Alliance of Health Care Sharing Ministries, visit www.ahcsm.org or follow the ministry on Facebook or Twitter.

To interview a representative from The Alliance of Health Care Sharing Ministries, contact Media@HamiltonStrategies.com, Beth Bogucki, 610.584.1096, ext. 105.

 

 

###  To interview a representative from The Alliance of Health Care Sharing Ministries, contact Media@HamiltonStrategies.com, Beth Bogucki, 610.584.1096, ext. 105.

‘People are spending more money than ever on their health care, often with expensive insurance plans that don’t pay for everything. This is why Health Care Sharing Ministries make more sense than ever. Christians can save money, stay out of debt and have more medical options’

 WASHINGTON — Commercial healthcare spending is estimated to grow to its highest level in 13 years, with PwC’s Health Research Institute (HRI) predicting in a new report “an 8% year-on-year medical cost trend in 2025 for the group market and 7.5% for the individual market,” according to Healthcare Finance.

“This near-record trend is driven by inflationary pressure, prescription drug spending and behavioral health utilization, the report claimed.”

“It never stops. People are spending more money than ever on their health care, often with expensive insurance plans that don’t pay for everything,” says Katy Talento, executive director of the Alliance of Health Care Sharing Ministries (The Alliance, ahcsm.org).

This is why Health Care Sharing Ministries make more sense than ever. Christians can save money, stay out of debt and have more medical options.”

 HRI said 2023 and 2024 medical cost trends will be higher than previously reported based on the input of surveyed health plans. This reflects higher-than-expected utilization of GLP-1 drugs as well as higher acuity inpatient and outpatient utilization.

“Inpatient and outpatient use were driven by demand from care deferred since the pandemic, which was met by newly created capacity as sites of care shifted to outpatient, professional and ambulatory care settings,” Healthcare Finance said.

“Continued inflationary pressure is expected to persist into 2025 as providers look for margin growth and work to recoup rising operating expenses through health plan contracts,” HRI found.

“The costs of GLP-1 drugs are on a rising trajectory that impacts overall medical costs. Innovation in prescription drugs for chronic conditions and increasing use of behavioral health services are reaching a tipping point that will likely drive further cost inflation,” the authors said.

The hospital and related services index saw a significant uptick in the most recent two quarters, hitting 6.3% growth in the fourth quarter of 2023 relative to the fourth quarter of 2022.

“We shouldn’t be surprised at the prospect of increasing expenses across the medical spectrum,” Talento says. “Inflation continues to add to already inflated prices for consumers in everything, and health care services are no exception.

“The Alliance of Health Care Sharing Ministries has long advocated negotiating better prices and having more transparency in health costs of all kinds, from drug prices to medical treatments to hospital stays.” 

 “Christians who aren’t happy with current health care choices have an attractive, affordable non-insurance option that is consistent with their values,” says Talento. “Health Care Sharing Ministries offer less cost, less red tape and more choices for health care consumers. In addition, members can live out the biblical admonition to show love for one another in practical ways, such as helping with each other’s medical expenses along with prayers and encouragement.”

Founded in 2007 and headquartered in Washington, D.C., the Alliance of Health Care Sharing Ministries is a 501(c)(6) trade organization representing the common interests of Health Care Sharing Ministries which are facilitating the sharing of health care needs (financial, emotional, and spiritual) by individuals and families, and their participants. The Alliance engages with federal and state regulators, members of the media, and the Christian community to provide accurate and timely information on health care sharing.

To learn more about the Alliance of Health Care Sharing Ministries, visit www.ahcsm.org or follow the ministry on Facebook or Twitter.

To interview a representative from The Alliance of Health Care Sharing Ministries, contact Media@HamiltonStrategies.com, Beth Bogucki, 610.584.1096, ext. 105.

 

###  To interview a representative from The Alliance of Health Care Sharing Ministries, contact Media@HamiltonStrategies.com, Beth Bogucki, 610.584.1096, ext. 105.