What’s worse, soaring energy prices or out of control health insurance costs?
By Jim Van Wyck | September 11, 2008
What part of the economy has seen rapid price increases and put a real squeeze on U.S. households and businesses?
Energy, you say? True. But health insurance is even worse.
45 Billion dollars worse!
Since 2000, spending on health insurance premiums actually grew faster than spending on energy; by the first half of 2008 American consumers were paying $370 billion more for
insurance premiums than in 2000. Spending for energy is a relative
laggard by comparison, increasing “only” $320 billion since 2000.
Rising energy prices constitute a real drain on family budgets. Rising
prices for health care, however, are also eating away at other
consumption possibilities, and we shouldn’t lose sight of this just
because we’re not given weekly reminders when we pull up to the gas
pump.
Topics: Health Insurance |
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