'Splain it to Me
I got my renewal notice for Health Insurance.
Apparently the rising cost of medical treatment for the coming year is 17.8%.
Pretty sure inflation was a lot less. Thats a lot higher than salary adjustments for last year.
Cost of living adjustments for last year....ummm....gas went up 26% so maybe health care costs are rising because of gas?
For those of you in the health field.....did you get 17% raises this past year?
For those of you in the economics fields, Are there studies that document the rising cost of health care?
Nearly 18% just seems a bit too high for a generic unknown and unspecified "rise in costs" outpacing my ability to pay for them.....
posted by Dern @ 7:57:00 PM
4 Comments:
Health care rises on the cost of new treatments too, which are fast-outpacing inflation.
Plus, we use more treatment each year, thus giving a truly compounded growth rate. It's become basically unhinged from population growth.
Brad Delong (UC Berk economist has a blog that should have some comments or if you have Times Select -weasels PKrugman wrote about it a few weeks ago.)
Hence the reason that thet medicare/medicaid budget crisis will be truly devastating in comparison with the projected social security shortfall.
Ah yes...rising healthcare costs. If only they could treat healthcare insurance like life insurance. If you are high-risk, i.e., smoker, overweight, involved in high-risk activities, your insurance premium should be higher than those who are not.
Nurses get a lot of pay raises. I'd guess 2-4% per year as a group (hooray unions!)
But that's not why healthcare costs are skyrocketing.
I agree with Tim about the major reason for healthcare costs -- it's 'cause the old people cost a lot of money to keep alive.
Let's not forget the rising cost of the healthcare provider's insurance, too.
Patients are very litigious tghese days.
Not enough nurses to go around.
Too many sick old people.
Overworked staff makes mistakes.
They get sued.
Medical malpractice insurance goes up.
Fewer healthcare personell can afford to be insured.
Less nurses and doctors to take care of old people.
More mistakes happen...
3 Comments......there haven't been 3 comments in.......seems like ages.
Its all about the Baby Boomers huh.....hmmmm. Will check out the blog, glad to hear some info on the subject.
Post a Comment
<< Home