Everything about healthcare is too expensive. Whether it be the cost of insurance, much needed tests or a medication that costs more than a four year college degree every single year. The whole industry has the stench of uncontrollable inflation and greed. Business Insider had a recent article that noted three things at the very beginning:
– Wall Street’s short sellers are beginning to talk about healthcare as the next major threat to the US economy.
– Costs are so high that the market will have to correct sooner rather than later.
– Left unchecked, a market-led correction will be brutal.
We’ve heard a lot about bubbles in recent decades and I don’t know about you but healthcare sure looks like one to me. The costs have simply become unsustainable for everyone involved. From businesses trying to offer insurance to their employees or said employee teetering on the brink of bankruptcy just because they don’t want to be sick and in pain all the time. I’ve written about this topic before but sadly the problem is only getting worse.
In just two years, from 2014 to 2016, the chunk of money spent on healthcare by consumers grew by a staggering 25% according to the Bureau of Labor statistics. Didn’t we pass a law called the Affordable Care Act a few years ago? Inflation like that is anything but affordable. Sorry for the pun, but healthcare has become a cancer on our finances and it is terminal. Sadly, what seems to be missing form the healthcare discussion many times is that it is a necessity. We’re not talking about big screen TVs or music concerts. Even sadder, is that the number one cause of bankruptcy in this country is now medical bills. I’ve never heard of something so ridiculous in my life.
How could we let this happen? Not only that, why aren’t we fixing it? Inflation isn’t something that has to happen, especially on this scale. As a percentage of consumer spending, needs such as clothing and food actually went down from 1984 to 2014. This is a can that we can’t keep kicking down the road. We can’t allow people to have to decide between paying their rent or buying their medications in a given month.
Also, this issue isn’t a political issue. I could care less what your political affiliation is. We have to stop fighting one another and instead start fighting the problem. We have to put on our big boy pants and actually fix something for once. Healthcare has become an unsustainable burden that has to be addressed now, not later. We have to come together and hash out solutions, not dig in our heels because so and so has a different political affiliation than me. Good ideas are good ideas, no matter where they come from. Simply put, we could use all the good ideas we can find right now.