Comparison shopping for the best prices – whether it’s car insurance, appliances or toilet paper – helps consumers stay on budget.
Healthcare services, according to a new report from the Commonwealth Foundation, shouldn’t be any different.
The costs of health care for average Americans have been hit particularly hard by the sustained high inflation the U.S. economy has seen over the past few years, according to KFF, a nonpartisan organization focused on health policy.
Just this year, premiums on family health insurance coverage for workplace plans increased by 7%, even as Americans’ wages only grew by 5.2% and total inflation rose by 5.8%, while over the last five years, premiums have risen 22% with wages increasing 27% and inflation 21%, according to a KFF news release. Inflation has continued to remain well above the Federal Reserve’s 2% target, rising 3.7% year-over-year in September after increasing the same in August.
Connecticut Gov. Ned Lamont has unveiled a raft of proposed health care reforms he says will cut medical costs and make care more affordable.
Lamont has filed a pair of bills that, if approved by the state Assembly, would ban the use of anti-competitive health care contracting practices, improve transparency in pricing for medical treatments, cap out-of-network insurance charges, and join a multi-state bulk purchasing program to lower prescription drug costs, among other changes.