How Much Can We Afford For Healthcare?

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by auditor0007, Jul 22, 2009.

  1. auditor0007

    auditor0007 Gold Member

    Oct 19, 2008
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    Toledo, OH
    Whether we move to a more public system or leave our healthcare system the way it is, costs will continue to rise. The question is, are we near the breaking point yet?

    We know that we are currently spending $7900 per year per person for healthcare in the US. Now consider this; the median income in the US was $42,000 in 2008. The total healhcare costs per person over a normal 78 year lifespan will equal over $600,000 for each person living in the US in today's dollars. Based on today's median income, the median income earner will earn a bit over $1,800,000 in their lifetime. So in essence, the median income earner needs to devote one third of his/her earnings toward healthcare.

    Now, let us consider that with the current system, healthcare costs will double within the next fifteen years in real dollars. That means that in fifteen years, the median income earner will need to devote two thirds of his/her lifetime earnings toward healthcare.

    I am not making this an argument for or against public healthcare, because there will be cost issues with such a system as well. I'm just throwing some numbers out there that cannot be denied. And based on those numbers, our entire economy will collapse or the vast majority of Americans will be left with minimal healthcare in the future. So we will have rationing of healthcare very soon. It is just a question of how the rationing will take place and whom it will effect the most.

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