The pandemic has shifted how and where Americans gain access to care, a shift large enough to influence multiple aspects of price and utilization and, thus, medical cost trend. PwC tells us that the aftereffects of the pandemic and the health system’s response to changes and failures observed during the pandemic are expected to drive up spending (inflators) in 2022. At the same time, some positive changes in consumer behavior and provider operating models that occurred during the pandemic are expected to drive down spending (deflators) in 2022.

The impact of the COVID-19 pandemic on healthcare costs has become clearer. For the first time during the 16-year history of the Milliman Medical Index, healthcare costs decreased during the past year (between 2019 and 2020). Eliminated care more than offset the cost of COVID-19 testing and treatments in 2020. But in 2021, Milliman projects healthcare costs to grow again, with the cost of healthcare for a hypothetical family of four insured through an employer PPO standing at $28,256.

This session provides detailed discussion of medical cost trend calculations, projections, components and implications addressed in this year’s release of the PwC Behind the Numbers, and Milliman Medical Index Reports. Click here for more information or to register for this HealthcareWebSummit event.