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Medical costs continue to outpace growth in wages

Physician Practice Advisor, June 22, 2005

Health spending by privately insured patients rose 8.2% in 2004, according to a report released Tuesday from the nonpartisan research group at the Center for Studying Health System Change. That's nearly the same increase seen in 2003, according to the Washington Post.

The study notes that 2004 is the eighth year medical costs have surpassed the growth of wages by almost four times earnings. The continuing trend may indicate that a larger number of Americans will be unable to afford their health insurance, said the Center for Studying Health System Change president, Paul Ginsburg in the Washington Post article.

"This is very worrisome to me," said Ginsburg in the article. "If the cost trend stays at the level it is today-well above the trend of earnings-this could lead to a substantial decline in the [percentage of] people with insurance."

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