The so-called medical care index, maintained by the Bureau of Labor Statistics, rose 0.7 percent in April, "its largest increase since January 2007," . The overall Consumer Price Index, of which medical care is one of eight components, grew just 0.1 percent for the month.
The projected 6.5% increase in healthcare inflation in 2016 is almost half the cost growth of 11.9% in 2007, when PwC first started making its annual projections. The bad news is that 6.5% cost growth is wildly outpacing wage growth and is unsustainable over the long run in a country that already spends close to 18% of its gross domestic product on healthcare.
The overall rate of inflation in the larger economy over the past year was 0%.
The Social Security incremental increases depend solely on the overall rate of Inflation which is 0%. Thus it will stay the same for this year. While the Doctors, the Hospitals, the Diagnostics, and the Medications are racing higher and higher.
Senior Citizens to Vote this issue for a President who can do something to cure Healthcare Cancerous Disease, the Cost.
Just a thought.
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