Costs are expensive because there is almost no skin in the game. Graft has taken over.
The Wall Street Journal has an interesting article on healthcare: Why Americans Spend So Much on Health Care—In 12 Charts.
The U.S. spends more per capita on health care than any other developed nation. It will soon spend close to 20% of its GDP on health—significantly more than the percentage spent by major Organization for Economic Cooperation and Development nations.
What is driving costs so high? As this series of charts shows, Americans aren’t buying more health care overall than other countries. But what they are buying is increasingly expensive. Among the reasons is the troubling fact that few people in health care, from consumers to doctors to hospitals to insurers, know the true cost of what they are buying and selling.
Contributions to employer-sponsored health coverage aren’t taxed, which makes it less expensive for companies to pay workers with health benefits than wages. Generous benefits lead to higher spending, according to many economists, because employees can consume as much health care as they want without having to pay significantly more out of their own pockets.
The prices of many medicines are hidden because pharmacy-benefit managers—the companies that administer drug benefits for employers and health insurers—negotiate confidential discounts and rebates with drugmakers.
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Again, let's start over. We told you all that Obamacare was written to add 10,000 plus Government administrators to a used to be private style industry.
ReplyDeletePLEASE THINK ABOUT THAT.
We're pretty sure that the 10k number probably has gone up way more than that, and these paychecks are for ADMINISTRATORS!
Do you really think this added cost would "lower your annual costs by $2,500?"
Seriously. All these new "Administrators" have nothing to do because their job never existed under the original scenario, and really all they have to do all day is to generate paperwork, mess up the system with mandated paperwork requirements, and collect paychecks.
And nobody can figure out what health care costs are on the rise? REALLY?