What’s ahead? Private spending growth slows

With the implementation of Medicare Part D squarely in the rear-view mirror, actuaries at the National Health Statistics Group at the Centers for Medicare & Medicaid Services are turning their attention to the coming demographic shift: Baby-boomers begin to sign up for Medicare.

The statisticians expect continued steady growth in national health spending, with some acceleration through 2009 because of greater use of resources. What will change, they say in the report, “Health Spending Projections Through 2017: The Baby-Boom Generation Is Coming to Medicare,” is that private spending growth will decelerate from 6.6 percent in 2009 to 5.9 percent by 2017. Public spending, however, will accelerate as the leading edge of the baby-boom generation becomes eligible for Medicare.

The primary drivers of personal health care spending growth will be medical prices and utilization — specifically, medical price growth for 2012–2017 will account for 3.8 percentage points of the 6.7 percent growth in personal health care spending, versus 3.2 percent of the 6.6 percent growth in 2007.

Factors accounting for growth in personal health care spending, selected years

Source: Centers for Medicare & Medicaid Services. Office of the Actuary

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HAP, a subsidiary of Henry Ford Health System, is a nonprofit health plan providing coverage to individuals, companies and organizations. This executive develops strategies to meet membership and revenue targets through products, pricing, market segmentation and advertising.  Aligns business among Business Development, Commercial Sales, Medicare and Public Sector Programs and Product Development. Seeks to enhance and be responsible for business development and expansion through the development of an effective product portfolio, strong interpersonal relationships and service excellence.

Apply via email to jfedder1@hfhs.org or online at http://p.rfer.us/HENRYFORDlXqAJA

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