Healthcare Costs Rising Way Faster Than Wages!
As a physician, Healthcare provider, employer, and father to 10 children, I have watched what is happening to our healthcare system with concern for all sides. One thing is certain. Regardless of how the other parties may suffer, the insurance companies (and we need them) don’t suffer.
As pointed out in the article “High deductibles, stagnant wages choke affordability of employees health insurance” (you can read it here… ) points out:
- Premiums for employer-funded insurance rose 73% in the decade from 2003- 2013.
- More plans are high deductible, shifting greater costs to the employees and those insured.
- Average deductible for single employee of $1,273 was a 146% jump from the average of $518 in 2003.
- A single person now spends 21% of the average annual income for health costs (up from 14% in 2003).
- A family now spends 23% of average annual income for health costs (up from 15% in 2003).
So, each year as an employer who provides health insurance, I must pay much more for a plan that is slightly worse (higher deductible or pharmacy benefits). Each year we families are spending greater and greater proportions of our income to cover health expenses. All the while this happens as quality measures are put in place that make healthcare more and more expensive.
In pediatrics, the more well visits you do the better the health plans say your quality is. The more vaccines you give, the better they say your quality is. I would prefer a shift to a system that rewards healthy children and families that spend fewer healthcare dollars, are less ill, use less of the medial dollars (pharmacy, ER, hospitalization, specialists, tests, labs) and results in healthier and happier children and families.
Follow my blogs and there will be lots of tips to get you to that destination of a healthy family. It starts at home with good nutrition, avoiding toxins, getting exercise, living in community, avoiding stress, and being grateful for our blessings.
I am grateful to you my patients, my family, my readers for allowing me to be a part of your community.