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Complete Health Care Resources |
Health Care Costs Are Rising At Epidemic
Proportions - Here's How To Protect Yourself
by: Blaine G. Dares
Health care costs are now approaching 15% of our national
economy and the economic repercussions have been felt by most American
families as employers are unwilling to absorb the bulk of the health care
cost burden.
In 2004, employer health insurance premiums increased by 11.2% - nearly
four times the rate of inflation. The annual premium for an employer
health plan covering a family of four averaged nearly $10,000. The annual
premium for single coverage averaged $3,695. Health insurance premiums
will rise to an average of more than $14,500 for family coverage in 2007.
In 2004, health care spending in the United States reached $1.7 trillion,
and is projected to reach $1.9 trillion in 2005. Health care spending is
4.3 times the amount spent on national defense.
Overall national health care costs will increase further with the
implementation of Medicare prescription drug coverage. Too many Americans
are uninsured while even a greater percentage have no insurance at all.
Uninsured individuals also present a problem for hospitals and other
providers who must provide treatment in catastrophic situations without
compensation.
Many employees receive restricted coverage and insurance plans that are
negotiated between employers and insurance providers limit coverage to a
single insurance carrier or an HMO.
Prescription drugs are the fastest-growing part of the nation's health
care expense. Pharmacy bills have become a significant item in the budget
of most families.
For 37% of Americans without prescription coverage, the problem is
critical. Especially for seniors who constitute 12% of the population but
use 37% of prescription drugs. The rest especially those without health
insurance, is significantly affected by high drug prices.
What has caused this cost increase?
Much of it is due to a riddled health care system of excessive
administrative expenses, inflated prices, poor management, inappropriate
care, waste and fraud. These problems significantly increase the cost of
medical care and health insurance for employers and workers.
On the other side of the cost issue there is the recent development of new
effective medications for a variety of illnesses. Such newer "brand name"
medications are patent-protected and cost far more than generic
medications.
The drug industry argues that the higher cost of new medications helps
fund research and development of even newer medicines. Many critics argue
that much of the research and development of pharmaceutical products is
actually government funded.
Also contributing to the cost increase is marketing. As this is 30% of a
drug manufacturer's budget. Brand-name U.S drug makers were reported to
employ 81% more people in marketing than in research and development of
much needed drugs.
Policymakers and government officials agree that health care costs must be
controlled. But they disagree on the best ways to address rapidly
escalating health spending. Some favor price controls and imposing strict
budgets on health care spending.
Others believe free market competition is the best way to solve the
problems but if people can't afford it, how will they protect themselves
and their family?
Well there is something you can do and that's become apart of the solution
and not the problem by learning more about our troubled medical industry.
Visit http://www.medicalcardsavings.com and sign up to our weekly ezine
and receive our Free ebook for complete details and answers to these
questions and mo
Share this article with others and we will reward you with cash and more
subscribers. for your eZine. http://www.medicalcardsavings.com/ezinepublisher.html
About the author:
Blaine Dares is the President of Medical Card Savings USA Saving over 1
Million Americans over $100 Million on Dental, Medical, Prescriptions,
Vision & Chiropractic Care. Instant Nationwide Savings. For complete
details visit
http://www.medicalcardsavings.com
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