Expectations for annual growth in medical costs hit 10.1% in November, according to the New York Fed, the highest since 2014.
Americans see their medical costs skyrocketing next year by the most in more than a decade, according to data published Monday by the Federal Reserve Bank of New York.
Consumers’ median expectations for annual growth in medical costs hit 10.1% in November, the New York Fed said. Those fears of bigger medical bills come as enhanced Affordable Care Act subsidies are set to expire at the end of the year — a looming deadline that led to the longest government shutdown in US history, which ended without a resolution. Expectations for healthcare costs in the year ahead last approached this level at the beginning of 2014, when consumers saw costs rising by 11.15%.
Emma Ockerman | Yahoo Finance