No 'magic formula' for containing health care costs - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
January 24, 2019 Newswires
Share
Share
Post
Email

No ‘magic formula’ for containing health care costs

Gaston Gazette (Gastonia, NC)

Jan. 24--No magic formula exists for lowering health care costs in the United States.

Instead consumers, providers, insurance companies, businesses, and communities will have to work together if costs are to be contained and if the U.S. rate of spending for medical care is to be brought closer in line with that of other developed nations in Europe and Asia.

And, that process is likely to require not just years but decades of attention.

That message was shared with local business leaders at the Gaston Regional Chamber of Commerce's monthly Good Morning Gaston breakfast on Thursday by F. Del Murphy Jr., vice president of strategy and business development for CaroMont Health.

Here are some highlights from Murphy's presentation:

Rising Costs:

--The United States spent $27.2 billion on health care in 1960. By 2017, that figure had risen to $3.5 trillion.

--In 2017, $275 billion was spent on health care administration, more than 10 times the total cost figure for 1960.

--The per capita health care cost for the U.S. in 2017 was $10,028, roughly double what is spent on health care in Western Europe and Asia.

What Determines How Long We Live and How Well We Live?

--40 percent -- Our behavior, including diet and exercise

--30 percent -- Genetic disposition, the things -- good and bad -- we inherit from our parents

--15 percent -- Social circumstances, as in the economic and education levels of our parents

--5 percent -- Environmental exposure. Do we drink clean water? Do we breathe clean air?

--10 percent -- Health care services

Why are health care costs so high?

--Harvard University lists the overall pricing structure, administrative costs, and drug spending as the driving factors.

--Blue Cross and Blue Shield points to drug prices, chronic diseases, and poor lifestyle choices.

--The American Medical Association lists lacks of preventive care, chronic diseases, falls, pregnancy, and dental care as factors in high costs.

--Preventive medicine, that is procedures done in the hope of preventing lawsuits, is also cited as a contributor.

What can be done to bend the cost curve?

Murphy spoke of three primary areas:

(1) Creating a culture of wellness. Included here would be executive health programs, personal wellness programs, employee health programs, health fair screenings, group fitness classes, smoking cessation efforts, and the employment of wellness coordinators.

(2) Target high cost factors. This would be done by better chronic disease management, medication therapy management, the use of virtual physician visits via computer, and on-site and near-site health clinics for business and industry.

(3) Helping consumers optimize their health plans. This would include developing individual health and wellness plans and helping consumers become more savvy in navigating the health care system.

Murphy said a large part of his job at CaroMont is controlling costs, but he said it is essential that CaroMont continue to develop partnerships with employers and with the community -- partnerships aimed at prevention, early detection, and lifestyle changes.

Speaking of the daunting task of getting people to change their habits -- be they about diet, exercise, smoking, or alcohol use, Murphy said there are two types of pain: "the pain of discipline or the pain of regret."

Bill Poteat may be reached at 704-869-1855.

___

(c)2019 Gaston Gazette, Gastonia, N.C.

Visit Gaston Gazette, Gastonia, N.C. at www.gastongazette.com

Distributed by Tribune Content Agency, LLC.

Older

During his arrest, Northwestern Ph.D. student thought of other black men and women ‘who had been shot and killed in their cars’

Newer

Town of Paradise Files Lawsuit Against PG&E for Camp Fire Damages

Advisor News

  • CT governor’s candidates claims: What’s true, and what’s misleading
  • Retaining clients by giving them a memorable experience
  • Addressing the longevity paradox
  • Employers shift focus from retirement access to financial outcomes
  • Helping widowed clients navigate their new financial reality
More Advisor News

Annuity News

  • Farm Bureau P&C insurers post first underwriting gain since 2021
  • Legacy Marketing, Malibu Life launch two fixed indexed annuities
  • Changing client priorities are reshaping annuity conversations
  • Solen Software acquires annuity software provider Cooperative Technologies
  • MassMutual Expands Lending Options With New Secured Credit Line
More Annuity News

Health/Employee Benefits News

  • Cost of employer-sponsored health insurance plans rises again, nonpartisan survey finds
  • Centene sues feds over low ratings for senior health plans
  • Terry Savage: Small business owners, now is the time to offer health insurance coverage
  • Aldermen select employee medical insurance broker services provider
  • Southwest Bridge Health focusing on insurance coverage gap in Berrien County
More Health/Employee Benefits News

Life Insurance News

  • Life insurer ordered to stop selling new policies in Virginia
  • AM Best to Present and Participate at 2026 Shanghai International Reinsurance Conference
  • Agents often missing from the loop on life, LTC insurance rate increases
  • Meiji Yasuda Life Insurance Company Trademark Application for “PEACE OF MIND, FOREVER” Filed: Meiji Yasuda Life Insurance Company
  • SoFi and Prudential Financial team up to expand access to life insurance
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Benefits Studio Launches to Fill the Missing Middle of Benefits Navigation at $49/mo
  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.