Two recently released reports indicate that the cost of healthcare will not increase as much as previously expected. Milliman recently issued the 2013 Milliman Medical Index, showing that the total annual cost of healthcare for a typical family of four covered by an employer-provided plan increased in 2013 by 6.3%. According to the report, this is the fourth year in a row that the percentage annual increase in medical costs has decreased. (In 2012, for example, the cost increased by 6.9%.) However, Milliman further notes that a typical family of four now pays more for healthcare than groceries.
Separately, California announced the estimated prices of health insurance to be offered on its health exchange. The prices are reported to be lower than were expected. Covered California, the health exchange for California, stated that rates “for the 2014 individual market ranged from two percent above to 29 percent below the 2013 average premium for small employer plans in California’s most populous regions.”