Health Costs Outpace Inflation
Out-of-pocket health costs have skyrocketed compared with all other prices as measured by the Consumer Price Index, shows new analysis by The Australia Institute.
The analysis using ABS data shows that health costs have more than doubled the rise in CPI with a 24 per cent increase in health costs compared with 11 per cent increases for all prices—mainly caused by a 33 per cent increase in the cost of medical and hospital services.
- Nationally, out-of-pocket health costs have increased 24 per cent compared with 11 per cent increase for all prices.
- Adelaide’s out-of-pocket health costs have increased 24 per cent compared with 11 per cent increases for all prices.
- Hobart’s out-of-pocket health costs have increased 27 per cent compared with 12 per cent increases for all prices.
- Increased out-of-pocket costs were mainly caused by increases in medical and hospital services.
“Our analysis clearly shows that out-of-pocket health costs have soared compared with other prices, placing undue pressure on people when they are at their most vulnerable,” says David Richardson, Senior Research Fellow at the Australia Institute.
“With health costs being a major issue in the present election campaign, it is important that all parties consider policies that can ease the pressure caused by rising out-of-pocket health costs.”