Posted 1/13/12 on Health Populi
The Big Headline under the banner of Health Economics this week is the statistic that growth in U.S. national health spending slowed to an anemic 3.9% in 2010 — the slowest rate of growth in the 51-year history of keeping the National Health Expenditure Accounts.
Before American policymakers, providers, plans and suppliers pat themselves on their collective back on a job well-done, the heavy-lifting behind this story was largely undertaken by health consumers themselves in the form of facing greater co-pays, premiums and prices for health services — and as a result, self-rationing off health care services and utilization, which negatively impacts providers and suppliers alike.
Continue reading “Health Spending in America – Self-Rationing Slows Cost Increases”
First published 5/11/11 on Health Populi
Health care costs have doubled in less than nine years for the typical American family of four covered by a preferred provider health plan (PPO). In 2011, that health cost is nearly $20,000; in 2002, it was $9,235, as measured by the 2011 Milliman Medical Index (MMI). To put this in context,
- The 2011 poverty level for a family of 4 in the 48 contiguous U.S. states is $22,350
- The car buyer could purchase a Mini-Cooper with $20,000
- The investor could invest $20K to yield $265,353 at a 9% return-on-investment.
Continue reading “Average Annual Health Costs for a US Family of Four Approach $20,000, With Employees Bearing 40%”