Health Care

Since the early 1990s, health care expenditures in the United States have risen dramatically; in fewer than 15 years, the cost of providing health care in the United States more than doubled. Employers are struggling with the rising of health care cost are implementing the shift of costs and responsibility to the consumer.

The cost of health insurance rose 7.7 percent in 2006, which is lower that the 9.2 increase for 2005 but still much higher than the overall rate of inflation. By 2014, health care expenditures are expected to comprise nearly 19 percent of GDP, climbing at a rate several times faster than either personal income or inflation. Health care comprises of about 10% in other comparable countries. For example, health care spending accounted for 10.9 percent of the GDP in Switzerland, 10.7 percent in Germany, 9.7 percent in Canada and 9.5 percent in France. This result is not normal and something must be done. The United State’s health care system is out of control.

A Health Savings Account (HSA) might be the answer. A national health insurance will deter quality doctors from entering the field and limit technology. Keeping the medical industry privatized ensures a better medical solution for all. A HSA requires personal responsibility for incurred medical expenses and an educated consumer. Part of the rise in costs is due to using insurance unnecessarily (as well as the threat of lawsuit). Of course, not all costs are the consumers fault, but I think we contribute. Once the learning curve for HSAs is achieved then many embrace the idea - maybe you will too.

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