Predicted to Skyrocket Along With Health Insurance Premiums
The news this week regarding predicted healthcare costs was not good; by the 2016 we Americans will be paying $4.1 trillion dollars for it, almost 20% of the GDP.
Yes, that "trillion" with a "T."
And with that steep climb will also rise the cost of
health insurance premiums. As it's summarized at
monstersandcritics.com, "here will also be increases in consumer out-of-pocket costs as employers ask workers to pay a larger portion of the overall healthcare tab." This will, in turn, make individual health insurance and supplemental even harder to get, and impossible to hang on to should the individual become sick.
Medicare Part D is a major part of the projected costs, since it will force the federal government to cover the high price of prescription drugs for millions of people who rely on Medicare. Prescription drug use is still projected to double, but with Medicare Part D seniors and states will pay less, and the federal government will pay more.
Facts on:
Healthcare Costs
Did you know...
Between 2006 and 2016, consumer out-of-pocket spending is expected to increase from $250.6 billion to $440.8 billion?
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While this is a great boon to those seniors and disabled individuals who need it, younger, working people will be picking up a heftier portion of the tab. As it the article goes on to say, "Between 2006 and 2016, consumer out-of-pocket spending is expected to increase from $250.6 billion to $440.8 billion."
So, unfortunately the inefficiency of an imperfect healthcare system will continue to plague American citizens for awhile to come. In the mean time consumers will need to continue piecing together their coverage as best they can, whether it's independent
individual health insurance, supplemental insurance to cover the gaps, or in too many cases, not enough insurance to protect them in times of need.
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