Medical costs in the U.S. rose 4.2 percent in the 12 months ended May 2013 while prescription drug costs rose 0.6 percent when compared to the 12 months ended May 2012, according to the new S&P healthcare claims indices released Tuesday.
“The data released today for the S&P Healthcare Claims Indices confirm that while the rate of increase of medical care expenditures in the U.S. is slowing, it is still rising faster than disposable personal income,” said David Blitzer managing director and chairman of the index committee at S&P Dow Jones Indices.
The indices are based on claims data from 33 health insurance companies and other healthcare data providers. The indices are developed from medical and pharmaceutical claims covering approximately 60 million commercially insured Americans across all 50 states.
The series of indices were developed by S&P Dow Jones Indices in conjunction with Health Index Advisors, a joint venture between Aon Hewitt and Milliman Inc.