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Maribeth Shannon July 2, 2014 Informational Hearing

Maribeth Shannon July 2, 2014 Informational Hearing. Health Care Costs Overview. Health Spending Has Been Historically Volatile. ….and has always outpaced inflation rates. Average Annual Growth Rates in Health Spending United States, 1962 to 2012.

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Maribeth Shannon July 2, 2014 Informational Hearing

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  1. Maribeth ShannonJuly 2, 2014Informational Hearing Health Care Costs Overview

  2. Health Spending Has Been Historically Volatile ….and has always outpaced inflation rates

  3. Average Annual Growth Rates in Health SpendingUnited States, 1962 to 2012

  4. CA Health Spending as a Share of the Economy Lower than U.S. Average….

  5. ……But CA Employer-Based Premium Rates are Higher Source : CHCF Employer Benefits Survey, 2013

  6. ESI Premium Increase Compared to InflationFamily Coverage, California, 1999 to 2013 Introduction of Rate Review

  7. Individual Market: Premium Rate Increases Existing Products - 2011 to 2014

  8. Regional Differences in Premiums in Covered California Silver Plan, single 40 year old, $75,000 income Avg. $381 Avg.$258

  9. Difference in Hospital Payments OSHPD - Net Revenue Per Adjusted Patient Day (Third Party) $7,740 $4,292

  10. ACA Provisions Likely to Increase Premium Rate Growth • Expansion of coverage • Guaranteed issue • Children covered to age 26 • Prohibitions on lifetime limits • Mandated benefits • Increased demand for services

  11. ACA Provisions Likely to Decrease Premium Rate Growth • Medical Loss Ratio Limits • Standardized Actuarial Value (Metal Levels) • “3 Rs” • Reinsurance • Risk Corridors • Risk Adjustment • Other: Delivery system changes, comparative effectiveness, etc.

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