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Friday, March 13, 2015

Stories Causing Atlas to Shrug, Friday the 13th Edition | Aging Exchanges, Pricy Rx & Doc Shortage

Death Spiral Alert: If 2014-15 PPACA Exchange sign-up participation among young adults had matched their share of the population, then 4.8 million young adults would have enrolled this year — but just 3.25 million selected plans.

Millennials Saving; But Not Enough: In a recent survey of millennial workers, 63% report they started saving for retirement before age 25. But less than a third are saving at least 10% of their salary through their employer-sponsored retirement plan.

Pricy Drugs: Prescription drug spending increased 13.1% in the United States last year, attributed partly to an increase in spending for specialty drugs.  This is more than double the rate of increase on medical services in general and the highest such increase in over a decade.

Doc Shortage Quantified: Patient demand for doctors will grow by 17% by 2025, while physician supply will increase by 9%. Physician specialty areas, such as surgery, are expected to experience the greatest shortfalls. For instance, this study projects a primary care shortfall of between 12,500 and 31,000, and a non-primary care shortfall of between 28,200 and 63,700.

 
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Benefit Revolution

Benefit Revolution
By Craig Gottwals, Esq.

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