Health Insurance Costs Are Rising Faster Than Wages

Americans budgets are being stretched in more ways than one and medical costs are no exception. Your annual raise in today’s world of growing healthcare cost actually isn’t a raise at all, if you consider the rise in the cost of your health insurance. Many Americans, who haven’t had to worry about health insurance costs in the past, must now do so, because it has become a much larger chunk of their monthly budgets.

A recent report released by Families USA shows that healthcare premiums are growing at a much high rate than wages. The group reported that since 2000 the average cost of family coverage insurance has increased from $6,672 to $12,078 in 2007, an increase of 78 percent. Wages only increased by 15 percent over this same seven-year period according to the U.S. Census Bureau, which means many Americans who once could afford health insurance, are no longer able to do so. There are 45 million Americans currently uninsured, mostly because they can’t afford the cost, and the costs continue to rise.

With food costs, gas prices and health care costs continuing to rise, many Americans are forced to cut costs somewhere. Many of those cuts affect healthcare, whether it be missing a needed medical test or examination, not having a prescription filled, cutting down on dosages of prescribed meds, or not going to the doctor at all. In fact, a poll released by the Kaiser Foundation recently reported nearly 50 percent of the respondents admitted to skipping needed healthcare treatment because of cost.

Companies across the U.S. continue to pass increases in healthcare costs on to the employee. Ron Pollack, president of Families USA, stated "People who used to take health care coverage for granted no longer can do so, and they are at growing risk of joining the ranks of the uninsured or underinsured." He also said based on his group's study it seems workers are getting hit with a "triple whammy." Healthcare premiums are going up, business’ are increasing the employees portion of those premiums and at the same time, because of the increased costs to employers, they are forced to hold back on wage increases.

According to Robert Zirkelbach, a spokesman for America's Health Insurance Plans, insurance costs are rising because: "There is overuse, underuse, and misuse of health care services. There are a lot of new and expensive technologies that are being used without proof of which ones work best and which ones are cost-effective."

Obviously it is a rising concern across the United States when our babies and children are not able to receive the proper healthcare treatment. However, it seems it isn’t only affecting children it is effecting entire families across America. Both Presidential candidates plan to address the healthcare cost issue if elected. They each have different plans, but hopefully no matter who is elected there will be reform placing funds back into Americans pockets and allowing us to afford healthcare treatment for our families.

Always remember that if you are in need of non-emergency medical treatment, you can visit your local health department for free treatment.