Healthcare Costs to Increase 8.5% in 2012

PricewaterhouseCoopers has a new report projecting health care costs to rise 8.5% in 2012 and 8% in 2011.

 

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Insurance policies will have higher deductibles and less coverage, what the report calls a cost deflator. Obviously that's not deflator to you.

One of the most damning conclusions of the report is how health care reform is projected to have minimal impact on health care costs for 2012.

Providers are consolidating, providing less competition. Employer plans are using even higher deductibles, dumping the costs onto you. Medical services are now getting less from Medicare, 3.3% increases for 2012, so as usual, to make up the difference, these providers are dumping their losses by jacking up prices for the rest of us.

 

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Even worst, they are projected a dramatic increase in stress related health care costs. Yes, losing your home and job affects your health.

Below is the CPI index annual change for health care costs:

 

 

and hospital related services CPI annual change:

 

 

and professional services (Doctors) annual index change:

 

 

All of the above health related costs increases dramatically outpace inflation.

Health insurance lobbyists just failed to get a rule over turned requiring a review of premium increases greater than 10%. Yet a review is not a cap or block on premium increases. Bottom line the health care reform bill did almost nothing to stop the rampage of for profit health care sector out to jack up their quarterly profits. Of course, once again, it's the average American who suffers and picks up the tab for this screw job once again.

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Comments

When Will Discretionary Income Disappear?

If things to on the way they are, surely there will be a point in the next decade or so that anyone making under $100,000 (family) or $75,000 (single) will not have anything left.

Think about it: rents are once again starting to creep up in many parts of the country. Health care's zooming up faster now than before the rececssion, evidently. State and local taxes, energy, food, clothes, commodities -- all are UP, UP and AWAY!

Yet not only are wages stagnant for most, but for many there are no wages -- or they have gone done.

So I ask the joke question that is not a joke: if we continue on our presnet course, when will everything the average person makes go to bills and essentials?

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When Will Discretionary Income Disappear? (corrected)

[Ignore/delete prior post]

If things go on the way they are, surely there will be a point in the next decade or so that anyone making under $100,000 (family with kids) or $60,000 (single) will not have anything left.

Think about it: rents are once again starting to creep up in many parts of the country. Health care's zooming up faster now than before the rececssion, evidently. State and local taxes, energy, food, clothes, commodities -- all are UP, UP and AWAY!

Yet not only are wages stagnant for most, but for many there are no wages -- or they have gone down.

So I ask the joke question that is not a joke: if we continue on our presnet course, when will everything the average person makes go to bills and essentials?

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Excessive Exec Salary

The Hospital CEO's, especially the non-profits" might think about their own salary - and reducing it. A very interesting email is circulating on the net:

"Peter Fine, is an American dream comes true. Peter, a former New York taxi cab driver, has made it big in the health care industry. Now making $1,300.00 an HOUR managing his NON-PROFIT health care corporation, Peter can easily buy a new car for CASH after working only 12 hours. An American dream comes true! How do your wages compare? Data is based on compensation figures that are public information. Internal Revenue Service, tax year 2009, DLN# 93493316013240, Employer ID 45-0233470. 40 hrs/wk 50 wks/yr 2 weeks paid vacation. Current wages may be up to 20% greater. Travel expenses and other benefits are not included."
Read the complete email at: bit.ly/nMbqck
Wikipedia Tax info at: bit.ly/nGM8uv

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