The Centers for Medicare and Medicaid services projects “only” a 5.8% growth rate over the next ten years in total healthcare spending. That DOUBLES in 12 years.
It won’t double as more and more lower and middle income people are rationed out. Unaffordable premiums and high deductibles are already taking their toll with Obamacare and employer paid health insurance. This is only the beginning.
Our healthcare is draining our economy and causing ill effects far beyond healthcare itself. While it has helped millions the Affordable Care Act or Obamacare has done little to deal with costs and has made it worse in many ways.
This isn’t happening in other advanced nations like Canada, the UK, France, Germany, Italy and Japan. There is much very wrong with American healthcare. It is going to get worse as our “baby boom” generation ages and adds more need for care.
Almost one out of every five dollars spent today in the U.S. goes to healthcare. The Centers for Medicare and Medicaid Services project a higher than recent overall growth rate to 6% per year. This rate compounded doubles in 12 years. If things aren’t reorganized, our yearly $3 trillion healthcare bill will grow to $6 trillion. The U.S. economy cannot afford this. We will have rising premiums, copays and deductibles to ration healthcare only to those in the higher incomes.
Those who have employers pay for their health insurance are really paying for it indirectly from their benefits package. Insurance premiums cut what employers can pay in salary. See how. Health care spending is choking income growth, consumer spending and jobs. It is concentrating income and wealth into the healthcare corporations and their rich owners.
We spend almost twice per person on healthcare than Canada, Western Europe and Japan. They are as healthy as we are if not healthier and live longer. They have universal coverage. They care for all their citizens.
One of the major causes of our very expensive healthcare is the use of Healthcare Insurance Corporations (HICs). The chart below shows that the countries that don’t use HICs, Single payers, spend a lot less per person and get good results. HICs are an unnecessary expensive burden.
In spite of how much we spend on healthcare. Americans are hurting badly, as this pie chart shows how much debt collection efforts go into medical debt:
We must copy from the better proven systems of the world as soon as possible. Healthcare rationing may eventually limit healthcare to the top half in income only. As the out of control spending gets worse, nobody will be safe from the price rationing.
The purpose of this website and blog is to point out what is wrong with our healthcare in the method of payment, the hospitals and drugs; what needs to be corrected and how we can do this. You can use the site search engine for specific information.
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