The bottom line on the healthcare/insurance reform brawl is the bottom line. We currently spend about 16% of our GDP on healthcare in its various appearances and appendages. The other industrialized democracies spend around 8% to 11% of their respective GDP’s. The cost of healthcare in the US is advancing at twice the rate of inflation; if we don’t turn that situation around, we could all face the prospect of a choice between paying the health insurance premium or putting gas in the car. Most of the shenanigans that have affected the brawl are about health issues, not really about the bottom line: how do we pay for it, and how much should we pay? If we could bring our spending down to a level comparable to other countries, say 12% of GDP, the sickness-based industries would see a cut in their revenues of 25%. They won’t submit to that without a fight.
Universal Coverage Isn’t the Issue, High Costs Are
Topics:GDP, gross domestic product, health, health care, health insurance, health reform, healthcare, inflation, insurance, insurance companies, Obamacare, spending, universal coverage