If health insurance premiums continue to rise at the current rate, it will cost a family of four $24,000.00 per year to be insured by 2016. This is an 84% increase from today's rates. At this pace, half of American households would spend about 45% of their income on their health insurance premiums.
Obama's cabinet has stated that healthcare reform is a core economic issue in 2009. The health insurance industry is becoming increasingly anxious by the future administration's determination to bring healthcare cost under control. Some Americans are seeing their healthcare premiums rising at four times the rate of inflation. Health insurance premiums are climbing at such an incredible rate that most Americans are deciding to elect cheaper plans with less coverage or drop their health insurnace all together. These individuals are creating a bigger problem for the future, but trying to save money now.
Time will tell if the Obama team will be able to tackle the healthcare reform issue in the coming year.
Tuesday, December 23, 2008
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