Friday, October 3, 2014

High Cost Of Healthcare

We've all seen over the last few years taxpayers revolting against government worker's medical costs. Employers raising rates while increasing the cost to their employees. Before we can do a fair analysis let us first have a look at the facts.

According to a Kaiser Family Foundation 2014 survey, "Annual premiums for employer-sponsored family health coverage reached $16,834 this year, up 3 percent from last year, with workers on average paying $4,823 ($402 a month) towards the cost of their coverage."

As you can see employee contributions have gone up 81% over the last 10 years while premiums rose 69%. So without argument both employees and employers have taken a hit. The chart also indicated employees were impacted 12% greater then their employers. I urge anyone who wants to do a highly detailed analysis check out the full report.

Medical care expenses are consuming an ever increasing portion of our gross domestic product. Over the last 40 years or so the medical industry that once made up only 5% of everything we once produced has gone up to around 17% while employment in manufacturing has seen a continuing decline...

Commentary & Analysis
Houston We Have A Problem:
Everyone likes cars, houses and toys, but as you can see medical expenses are consuming an ever increasing portion of our disposable income. Less toys and houses means less jobs in the industries that make them. Healthcare, while essential doesn't make Joe Blow a happy guy. Hence all the screaming and pointing fingers against employers and other people who happen to work in government, receive Medicaid or some other perceived scoundrel who may pay less then they.

Indeed there may be justification for these increases such as more complicated and expensive treatments. Still the facts remain. Medical costs are taking more from Americans' pockets they'd prefer to spend on essentials, vacations, entertainment and toys like they once use to.

The first step in reconciling this is recognizing the facts regarding this challenge we are now faced with. Screaming, hollering and placing blame on one another is not the solution. Until we as a nation find a solution to somehow reign in the costs the problem will only grow worse.

Blaming unions, Obamacare, so-called free loaders, employers or whatever other imagined boogieman is out there caused this does nothing to resolve the situation.

I said this before and I will say it again, this all needs to resolved at the federal and state levels. It is they who can increase minimum wages which will increase tax revenues and give people more money so they can afford things. It is they who can create tort reforms and a host of other medical reforms.

Did You Know?

This is a damn shame & should be an embarrassment to the U.S.!

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