The 2014 Forecast for the Cost of Healthcare Coverage

Have you been wondering what the cost of healthcare coverage is going to be in 2014? Concerned that the healthcare mandate is going to make premium charges go up? Worry no longer — the forecast for healthcare premiums is slated to increase by 6.5 percent. It’s a drop from the previous forecast of 7.5 percent, and is much lower than the 10 percent average increase that was seen in the first 10 years of the new millennium.

The Affordable Care Act is playing a role in keeping the increasing cost of healthcare coverage down, but it’s not the entire story. Consumers have been seeking out healthcare that isn’t as costly, such as cheaper premiums or going to walk-in clinics instead of emergency rooms, and retail clinics for basic health care services. This is due in part to the fact that emergency room costs have increased by 50 percent since 2009.

Spending on brand-name, high-cost prescription drugs is expected to rise by 22 percent in 2014.

Employers may see a 4.5 percent increase in their premium costs, although this will vary depending on what kind of deals employers strike with insurance companies.

Are you in the Colorado Springs area and looking for insurance? Contact Warrior Insurance today and get a quote!

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