Healthcare Inflation and Insurance Affordability

Medical care is one of eight major groups in the Consumer Price Index (CPI). This includes medical care commodities (MCC) such as medicinal drugs; and medical equipment and supplies, and medical care services (MCS). This project will examine how the components of the medical care CPI are trending in order to better understand how to health care costs can be managed and affordably insured.

Project Mentor

Dr. Kevin Ahlgrim
Dr. Jim Jones
Jeremy Pecora, FCAS, MAAA, Willis Towers Watson. Actuarial Advisor and Manager.
Nancy Ridenour, Ph.D.,APRN,BC,FAAN, Nursing Dean, Professor former Robert Woods Johnson health policy fellowship with the Committee on Ways and Means.

Recruitment Status:

Open

Final Deliverable

A model that can be used by legislators, health care providers, regulators, and health insurance carriers to better understand how the changing components of the overall medical care CPI affect costs.

  • Economics – general understanding of inflation data
  • Understanding of health care system Insurance
  • Analytical skills – manipulate data and apply statistical analysis
  • Data Analytics and Actuarial
  • Research – identify existing sources of medical utilization data and medical services inflation
  • Innovation and creativity – curiosity to try different approaches not used historically