One of the biggest chunks out of my paycheck … and it keeps on taking, in the form of co-pays and deductibles … is health insurance. I’m glad I’ve got coverage, but it sure takes a bite!
Medicare is projecting the nation’s health care tab is on track to hit 4.6 trillion dollars in 2020, accounting for about one dollar in every five in the economy. Medicare analysts estimate health care spending in 2020 will average $13,710 for every man, woman, and child. That compares to 2.7 trillion dollars this year, or $8,650 per person. Most of that pays for care for the sickest people.
Remember the storm over President Obama’s attempt to overhaul health care? At the end of the day, a few things were changed … but health care costs were not effectively challenged. They continue to rise, taking billions out of the consumer economy and putting that cash into the pockets of health care providers.
Profit incentives work, you know.
Our thought for today is from Mark Twain:
“Be careful about reading health books. You may die of a misprint.”