That Sucking Sound: Soaring Medical Insurance Costs

Insurance coverage for a family nears $16,000/year, about 1/3 of the median income in the U.S.  More than housing costs, more than food……hardly sustainable. 

Average annual premiums for family coverage rose 4 percent and individual premiums rose an average of 3 percent in 2012, increasing faster than employee wages and overall inflation for the 13th straight year, according to a nationwide survey of businesses released Tuesday from the Kaiser Family Foundation and the Health Research & Educational Trust.

Medicynical Note:  The Romney un-plan is to undo health reform and allow the private sector control expenditures and care.  This is shorthand for economic rationing of health care.  If you can’t afford the insurance or medical intervention than you are out of luck.  His “plan” will do nothing for the 50 million people without insurance, do nothing for those will serious illness who are priced out of the insurance market, nothing for those with “pre-existing illness.”  (as clearly enunciated by his campaign earlier this week). 

I would remind you that the fiduciary responsibility of the private insurance industry is to maximize profits not health health care.

Stark choices this November.  In the end we’ll get what we deserve. 

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