Today in the news, some interesting information regarding the cost of health care, the uninsured, and how they relate to each other.
Study says uninsured are costly for all
WASHINGTON – The average family with health insurance shells out an extra $1,000 a year in premiums to pay for health care for the uninsured, a new report finds.
And the average individual with private coverage pays an extra $370 a year because of the cost-shifting, which happens when someone without medical insurance gets care at an emergency room or elsewhere and then doesn’t pay.
The report was being released Thursday by advocacy group Families USA, which said the findings — which it calls a “hidden tax” — support its goal of extending coverage to all the 50 million Americans who are now uninsured. Congress and the Obama administration are working on a plan to do that.
Families USA contracted with independent actuarial consulting firm Milliman Inc. to analyze federal data to produce the findings.
“As more people join the ranks of the uninsured, the hidden health tax is growing,” said Ron Pollack, Families USA executive director. “That tax hits America’s businesses and insured families hard in the pocketbook, and they therefore have a clear financial stake in expanding health care coverage.”
Health care companies are passing the buck along to the consumer … again.
The cost of health insurance is getting passed on to the consumer because the rolls of the insured are dwindling and the health insurers want to maintain their profit margin. People lose their jobs and for those remaining employed, their costs go up—making it more difficult to afford health insurance.
Pay attention. This is the free market destroying itself. At this rate, we should see insurance companies begging for universal health care by next summer.
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