Yeah the costs ARE too high and going up every year. Our coverage through my wifes job has DOUBLED their premiums and raised their co-pays and RX costs.
Anecdotal testimony is often at odds with statistical analysis.
Actually, healthcare costs are not going up, but are decreasing.
By Betsy McCaughey Betsy McCaughey, Ph.D., is a patient advocate, founder of the Committee to Reduce Infection Deaths, and a former Lt. Governor of New York State.
Downgrading Health Care
The administration has warned that soaring health spending threatens the stability of American families and the economy. These doomsday scenarios are untrue. Health care spending is increasing at more moderate rates than in previous decades. Spending increased 10.5 percent in 1970, 13 percent in 1980, and consistently less than 7 percent in each of the last five years, reaching a low of 6.1 percent a year ago. Each year since 1960, food and energy together have taken up a declining share of Americans' expenditures, while housing has taken up a steady share. This has enabled Americans to spend an increasing share of their budgets on another necessity, healthcare. These four necessities together consume the same share of American spending now (55%) as they did in 1960 (53%). As further evidence, Americans are increasing the share of their spending that goes to recreation. Moderate income families can be helped to buy health coverage with vouchers, refundable tax credits, or debit cards. That's a low risk, "fix what's broken" approach.
Increases in healthcare expenditures:
2003 8.6%
2004 6.9%
2005 6.5%
2006 6.7%
2007 6.1%
Compare to 10.5% in 1970 and 13% in 1980
For purposes of comparison, education:
Tuition at private colleges and universities has increased anywhere from 5% to 13% every year since 1980. "
The Cost of a College Education
And for primary and secondary school:
"Based on statistics from the US Department of Education, the average cost of educating a student in elementary and secondary schools has risen from $6,200 in 1991 to $11,000 in 2005 an increase of 85%. "
US Education Market | Entourage Systems Inc.