{"id":2343793,"date":"2024-09-20T08:27:53","date_gmt":"2024-09-20T12:27:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/next-president-will-face-the-challenge-of-rising-healthcare-costs-washington-examiner\/"},"modified":"2024-09-20T08:33:09","modified_gmt":"2024-09-20T12:33:09","slug":"next-president-will-face-the-challenge-of-rising-healthcare-costs-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/next-president-will-face-the-challenge-of-rising-healthcare-costs-washington-examiner\/","title":{"rendered":"Next president will face the challenge of rising healthcare costs &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnext-president-will-face-the-challenge-of-rising-healthcare-costs-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2343793&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>As the 2024 presidential\u2062 election\u200b approaches, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/we-made-a-mistake-uber-accidentally-tells-some-drivers-theyve-got-some-health-insurance\/\" title=\"\u2018We Made A Mistake\u2019: Uber Accidentally Tells Some Drivers They\u2019ve Got Some Health Insurance\">healthcare costs<\/a> are \u2064a significant \u200dtopic for both Democratic nominee Vice President Kamala Harris and Republican former President Donald Trump, \u2064who have both pledged to reduce these expenses for Americans. However, a report from PricewaterhouseCoopers&#8217; Health Research Institute indicates that healthcare costs are expected to\u2062 rise between 7% and\u2063 8% in 2025, with\u2063 employer costs increasing by\u2063 9%, potentially reaching $16,000 per employee.<\/p>\n<p>Several factors are \u2062contributing to the rise in healthcare costs. Yearly inflation, which had briefly decreased during the COVID-19 \u2063pandemic due to reduced medical visits, has \u2062resumed with a cumulative\u2062 inflation rate of 22% from 2020 to 2024 as healthcare services\u2063 normalize. A significant driver of costs is the increasing demand for glucagon-like peptide-1 (GLP-1) \u200cdrugs for obesity and\u200c Type 2\u2062 diabetes, witnessing an \u200b87% surge in 2023 and resulting in a\u200c sharp rise in costs to employers.<\/p>\n<p>Additionally, advances in treatment for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/moderate-democrats-introduce-rival-drug-pricing-plan-imperiling-pelosi-backed-proposal\/\" title=\"Moderate Democrats Introduce Rival Drug Pricing Plan, Imperiling Pelosi-Backed Proposal\">chronic conditions<\/a>, such as Alzheimer&#8217;s disease, present new expenses. The recent FDA approval of\u200c the drug Kisunla, while promising for patients, carries a hefty price tag of $32,000 annually before\u200b insurance coverage. Moreover, cuts to Medicare Advantage plans,\u200d which serve nearly\u2062 half of seniors, have led insurers to increase costs for beneficiaries,\u2062 complicating the healthcare affordability landscape as the election \u200bnears.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-sacff-txt\">Magazine &#8211; Washington Briefing <\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Next president will face the challenge of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/not-just-climate-inflation-reduction-act-has-made-major-healthcare-changes-one-year-in\/\" title=\"Inflation Reduction Act brings significant healthcare changes after one year.\">rising healthcare costs<\/a><\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1740870\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>As the 2024 presidential election approaches, the rival campaigns have promised to &ldquo;lower costs&rdquo; on healthcare for people living in the United States. Unfortunately, whether the winner after Nov. 5 is <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/kamala-harris\/\" target=\"_blank\" rel=\"noopener\" title>Vice President Kamala Harris<\/a>, the Democratic nominee, or <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" target=\"_blank\" rel=\"noopener\" title>former President Donald Trump<\/a>, the Republican standard-bearer, people will have to wait for their <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/healthcare\/\" target=\"_blank\" rel=\"noopener\" title>healthcare<\/a> costs to decrease.<\/p>\n<div class=\"article-paywall\">\n<p>Healthcare costs are set to rise between 7% and 8% in 2025, according to a new report from PricewaterhouseCoopers&rsquo;s Health Research Institute. The projection is for 7.5% in the individual market and 8% in the group market. A separate report from professional services firm Aon found that employer healthcare costs will rise 9% in 2025, surging to $16,000 per employee.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Vice President Kamala Harris waves to a crowd before delivering a speech on healthcare at an event in Raleigh, N.C., Tuesday, March. 26, 2024. (AP Photo\/Matt Kelley)<\/figcaption><\/figure>\n<p>Inflationary pressures continue to push healthcare costs higher. Ironically, healthcare costs dipped during the COVID-19 pandemic as people visited doctors less and hospitals put off various surgeries and treatments to reduce the risk of people contracting the virus. While year-over-year inflation continues to decline, the cumulative inflation rate from 2020-2024 is 22%. Those increases include healthcare as people resumed regular doctor visits and hospitals returned to everyday care and surgeries.<\/p>\n<p>Another factor is the increased use of glucagon-like peptide-1 (GLP-1) drugs to treat obesity and Type 2 diabetes. The drugs, sold under brand names such as Wegovy and Ozempic, have become popular over the last several years due to their effectiveness; the demand for such drugs surged 87% in 2023, according to Aon. For some time, the demand was so great that it created shortages of the drug, resulting in long delays for people to obtain their treatment, thereby <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/interview-how-health-care-price-transparency-can-save-americans-money-and-put-consumers-in-charge\/\" title=\"INTERVIEW: How Health Care Price Transparency Can Save Americans Money And Put Consumers In Charge\">increasing costs<\/a> further. According to the report from PwC, the cost to employers per member on GLP-1s has risen steadily over the past several years. In the first half of 2023, it was $23.16 compared to $8.99 in 2021, an increase of more than 250%.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Then-President Donald Trump delivers remarks on healthcare at Charlotte Douglas International Airport, Thursday, Sept. 24, 2020, in Charlotte, N.C. (AP Photo\/Evan Vucci)<\/figcaption><\/figure>\n<p>Drugs to treat central nervous system conditions like Alzheimer&rsquo;s or Parkinson&rsquo;s disease did not provide much benefit in the past. However, rapid innovation and advances in medicine have brought some promising treatments to market. In July, the Food and Drug Administration approved Kisunla (donanemab-azbt), an amyloid-targeting therapy for Alzheimer&rsquo;s disease. In one 18-month study, researchers found that patients who took Kisunla declined in memory and cognitive ability about 22% more slowly than those who received no infusion. While the drug doesn&rsquo;t cure or reverse Alzheimer&rsquo;s, the 12-month cost before insurance is $32,000. Such advances will bring cost challenges.<\/p>\n<p>Cuts to Medicare Advantage plans by the Biden administration have also contributed to higher costs. Medicare Advantage plans, of which nearly half of the seniors are enrolled, are private plans offered as a supplement to Medicare. They offer additional benefits such as dental and vision care. Also, out-of-pocket costs tend to be lower than in traditional fee-for-service Medicare. In 2023, the Biden administration restricted plan marketing and cut payments to insurers on average by 1.1%. Payments will be reduced by another 0.16% beginning next year, with seniors getting notified shortly before Election Day. As a result of the reduced payments, insurers have had to increase costs in the form of higher premiums and copays.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/strong>&nbsp;&nbsp;<\/p>\n<p>Finally, health insurers have begun to reassess their healthcare plans&rsquo; total cost of care. Traditionally, providers have examined operational costs and administrative tasks as a means of reducing costs. That approach doesn&rsquo;t address the broader scope of underlying concerns and challenges in the marketplace, such as government involvement in setting drug prices and the continued aging of the baby boomer generation. Analysts for PwC said, &ldquo;By executing this holistic approach through a dedicated function, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">health plans<\/a> are striving to moderate medical cost trends and improve affordability by reducing over-utilization, improving the efficiency of operations, and enhancing the effectiveness of medical management operations.&rdquo;<\/p>\n<p>While the Trump and Harris campaigns will point fingers at each other over healthcare from a 50,000-foot view with accusations of cutting Medicare, repealing the Affordable Care Act, and taking on Big Pharma, they&rsquo;re not offering much in the way of policy proposals or solutions to slow the growth of healthcare costs overall. Whoever wins in November will have to address it as the bills come due.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1740870\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1740870\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>**Magazine &#8211; Washington Briefing**<\/p>\n<p>The next president will confront the issue of escalating healthcare expenses. With the 2024 presidential election on the horizon, competing campaigns have vowed to &#8220;reduce costs&#8221; for Americans regarding healthcare. However, regardless of whether Vice President Kamala Harris, the Democratic candidate, or former President Donald Trump, the Republican nominee, emerges victorious after November 5th, citizens will likely have to wait for a decrease in their healthcare expenses. A recent report from PricewaterhouseCoopers\u2019 Health Research Institute indicates that healthcare costs are projected to rise by 7% to 8% in 2025\u2014specifically a forecasted increase of 7.5% in individual markets and 8% in group markets. Additionally, a separate analysis from Aon predicts that employer healthcare costs will jump by 9%, reaching $16,000 per employee.<\/p>\n<p>Inflationary pressures continue to drive up these costs. Interestingly, during the COVID-19 pandemic, healthcare expenses temporarily fell as fewer people sought medical attention and hospitals postponed various procedures to minimize virus transmission risks. Although year-over-year inflation is currently decreasing, cumulative inflation from 2020 through 2024 has reached 22%. This surge includes rising healthcare costs as individuals resumed regular doctor visits and hospitals returned to standard care practices.<\/p>\n<p>Another contributing factor is the increased demand for glucagon-like peptide-1 (GLP-1) medications used for treating obesity and Type 2 diabetes; these drugs\u2014marketed under names like Wegovy and Ozempic\u2014have gained popularity due to their effectiveness with an astonishing demand increase of 87% reported in Aon&#8217;s findings for just this past year. The high demand led to shortages that delayed treatment access further driving up prices; according to PwC&#8217;s report on employer drug spending per member on GLP-1s rose significantly\u2014from $8.99 in 2021 to $23.16 in early 2023.<\/p>\n<p>Advancements in treatments for central nervous system disorders such as Alzheimer\u2019s disease also present cost challenges despite offering new hope; recently approved Kisunla (donanemab-azbt) shows promise but comes at a steep price tag of $32,000 annually before insurance coverage.<\/p>\n<p>Moreover, cuts made by the Biden administration affecting Medicare Advantage plans\u2014which nearly half of seniors utilize\u2014have resulted in higher out-of-pocket expenses due primarily because insurers had their payments reduced by an average of about one percent this year with another slight cut expected next year.<\/p>\n<p>Health insurers are now reevaluating total care costs within their plans since traditional methods focused mainly on operational efficiencies do not adequately address broader market issues like government drug pricing policies or demographic shifts such as an aging baby boomer population.<\/p>\n<p>Analysts at PwC suggest that health plans need a comprehensive strategy aimed at moderating medical cost trends while enhancing affordability through improved operational efficiency and better management practices overall.<\/p>\n<p>As both Trump\u2019s and Harris\u2019s campaigns engage each other over various aspects related directly or indirectly towards health care\u2014including accusations surrounding Medicare cuts or actions against pharmaceutical companies\u2014they seem short on concrete policy proposals aimed specifically at curbing overall growth rates associated with rising health expenditures\u2014a pressing concern whoever takes office come November must tackle head-on<\/p>\n","protected":false},"author":2991,"featured_media":2343794,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/Harris_Healthcare_mag_0925.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[34402,34630,41313,41312,32076],"class_list":["post-2343793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-economic-policy","tag-healthcare-costs","tag-presidential-challenges","tag-rising-costs","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/Harris_Healthcare_mag_0925.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2343793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2991"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2343793"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2343793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2343794"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2343793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2343793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2343793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}