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Over the past five years the cost of health insurance has risen 54 percent.1 This persistent rise has recently been attributed to the low out-of-pocket costs paid by consumers.2 By not knowing the full costs associated with health care, consumers demand more and âoveruseâ it (moral hazard).
Today, medical prices and physician fees continue to grow at about twice the rate of inflation. Hospital prices have increased at almost four times. U.S. health-care spending has increased from 6% of the Gross Domestic Product in 1965 to 18% ($3 trillion) today.