SteveLendman October 30 2013
Obama sold smoke and mirrors. He makes used car salesmen look respectable by comparison. His Affordable Care Act (ACA) provides unaffordable coverage.
Millions of households have to pay 40% or more out-of-pocket. It’s for co-pays and deductibles. It’s on top of costly premiums.
Coverage for 50-year-olds making $46,100 is $10,585. Co-pays and deductibles add up to another $6,250.
Healthcare in America is double its cost in other developed countries. It’s increasingly less affordable. Little is done to constrain annual price hikes. It wasn’t always this way. A previous article explained.
In 1960, healthcare as a percent of GDP was 5.1%. In 2002, it was 15%. In 2011, it was 17.9%. By 2020, it’ll exceed 20%.
Between 1960 and 2009, average annual healthcare spending rose from $147 per person to $8,086. It reflected a 55-fold increase.
In inflation-adjusted 2010 dollars, it increased annually from $1,082 to $8,218 – a 7.6-fold rise.
In 1942, Christ Hospital, NJ charged $7 per day for a maternity room. Today it’s $1,360.
In 1980, a typical US hospital room cost $127. Today it’s multi-times higher.
A 2011 survey of 11 Ohio hospitals found daily hospital room prices ranged from $688 – $2,425. Cost averaged $1,393. The median price was $1,322.