NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) publishes a commentary on state and local government spending for employee health insurance. The data, which is published annually by the Office of the Actuary at the Centers for Medicare and Medicaid Services (CMS), projects state and local government spending for employee health insurance to increase by 4.3% in 2017, after a similar 4.4% increase in 2016. Employee health insurance cost for state and local governments increased an averaged 8.1% from 2000 to 2016, outpacing the growth in primary government revenues. While the projected 2017 spending is more moderate, the growth rates continue to far exceed inflation.
KBRA views the more moderate projections with cautious optimism but maintains the view that healthcare cost management will be an enduring challenge for state and local governments.
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.