The Work Begins
Today begins the reality of a new administration, in a very daunting time for the U.S. The top priorities are stabilizing our economy and restructuring our military operations. Though there are a myriad of additional challenges, one area that will soon come into focus is healthcare, which was a prime focus of Americans before the economic downturn. In fact, the economy’s rapid deterioration is raising our healthcare crisis back to the surface.
Since World War II, the majority of healthcare in this country is employer sponsored. The skyrocketing costs of healthcare premiums have somewhat limited the prevalence of employer sponsored benefits, but employers still provide the vast majority of health insurance and healthcare is an employer’s second highest expense after payroll. Beyond that, Americans still expect healthcare as a priority of their compensation. What companies have had to do is share premium costs with their employees; one hundred percent coverage sliding down to ninety, seventy five, or even sixty percent, with the employees paying the remainder as a payroll deduction. But as more and more companies falter, the ranks of the unemployed are increasing. And as Americans lose their jobs, they are also losing their healthcare. Although a former employee was used to paying a share of their healthcare premium, the true cost of health insurance is largely shielded from Americans. The cost is staggering. The average cost of family health insurance in 2009 is over $12,000. Does paying over $1000 a month in premium seem reasonable?
Over the past decade, healthcare premiums have risen over 90%. With no signs of slowing down, our healthcare is simply becoming unattainable for most Americans. The cost is driving many of our corporations into the ground, causing more layoffs, leading to fewer insured individuals who have no choice but to seek care in emergency rooms, which then makes the costs of healthcare premiums rise even higher for those who are insured. What is truly sad is that, for spending more than any other country, our level of care is average compared to the rest of the world.
Something must be done. Healthcare insurers need to realize that a sea change is coming. There needs to be a unified effort on behalf of the insurers and our government to find a solution. The task is overwhelming, but the need is critical. There are a variety of theories and approaches being discussed, all of which have their flaws as well as merits. Highlighted here is Nobel-Prize winning economist Paul Krugman’s assessment and outline for a solution. (Story, http://www.healthcarefinancenews.com/story.cms?id=9173 ).
Please offer your own thoughts and join the discussion.
Americans Want Healthcare Addressed
http://www.healthcarefinancenews.com/story.cms?id=9174
Workday #1
http://www.google.com/hostednews/ap/article/ALeqM5hJWeCOYuQewzuUL02wnZAZwFScgwD95RJ1Q80
