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Obamacare: Fla Insurers Cutting Costs

Obamacare: Fla Insurers Cutting Costs

As health care costs rise in Florida, insurers and hospitals are coming up with new ways to cut costs from piloting programs to lower admission rates to limiting the amount of doctors within a plan's network.

According to the nonpartisan Kaiser Family Foundation, Florida's health care costs rose an average of 6.9 percent in the past 18 years, higher than the national average of 6.5 percent. Health care expenditures per capita in the state are $7,156 compared to the national average of $6,815.

Reining in health care costs, which have been growing far faster than inflation and wages, is crucial to the long-term success of the Affordable Care Act.

The law is forcing companies to experiment with different ways of delivering care in an industry with already shrinking profit margins.

Copyright: AP/Image: Thinkstock

 

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