This increase in cost of healthcare is most likely to impact the public in a number of ways.
It is of crucial significance to note that the increase in cost of healthcare is good to the economy for a number of reasons. The increasing cost of healthcare is important in strengthening the economy. It is likely to result in increase in taxes thereby creating more money thus strengthening the economy (Pear et al, 2014). However, it is prudent to acknowledge that the increase in cost of healthcare may negatively impact the consumers in a number of ways. This may involve the increasing costs of medical insurance to such consumers. In this regard, it is prudent to note that the healthcare costs should be reduced. This is because the high healthcare cost is most likely to raise the cost of medication and hospital. This can be attributed to increased costs of living to the people.
Renter, E. (2014). Health Care Costs Expected to Rise in 2015: Are You Ready? Retrieved on 9th June 2015 from http://health.usnews.com/health-news/health- insurance/articles/2014/10/21/health-care-costs-expected-to-rise-in-2015-are-you-ready
Pear, R., Abelson, R. & Armendariz, A. (2014). Cost of Coverage Under AffordableCare Act to Increase in 2015. Retrieved on 9th June 2015 from