Friday :: Sep 10, 2004

Health Insurance Costs

by soccerdad

The Kaiser Family Foundation released a new study on the costs of health insurance. Here are some data.

Cost to insure family of 4 - $9,950 /year
employee share - $2661

%increase this year - 11.2%
% increase last year - 13.9%

cost to GM per car - $1400.

Since 2000
Increase in family contribution - $1000
% increase in cost of health insurance - 59%
% increase in employee costs - 57%
% increase in wages - 12%

5 million fewer jobs offering healthcare benefits in 2004 than in 2001

number of Americans without healthcare grew last year to a record 45 million

One of the more "ominous" findings in the report, Lee said, was the increasing tendency of companies to offer high- deductible plans with no incentives for workers to seek preventive care, such as mammograms and annual physicals.

"We may be redefining what health insurance means in America," he said

The system is broke and onthe verge of collapse. Band aids are not going to fix it. It will take a major overhaul. Like it or not the end result will probably be a single-payer system. In addition there will have to be controls on those elements most responsible for the increased costs: big pharma, insurance companies, and for profit hospitals.

soccerdad :: 4:07 AM :: Comments (6) :: Digg It!