About the Healthcare Crisis
The effects of healthcare’s rising cost in America are both profound and pervasive. Exponential increases in cost over past decades, coupled with impending demographic shifts, stand to worsen the dismal state of healthcare in the world’s richest nation. Without reform, in due time the federal government will be paralyzed by debt, American business will be unable to compete on the world stage and the American people will be asked to sacrifice even more to avoid joining the swollen ranks of the uninsured.
As the soaring cost of healthcare has consequences for all aspects of American society, the inescapable truth is that government, business and individuals must all accept a degree of responsibility. Without a universal concern for containing the cost of healthcare, there can be little hope for any necessary action. There is no single person or entity behind the healthcare crisis facing America, nor is there a single victim. Only through a better understanding of the facts that support the reality of this crisis, we Americans can start piecing together the solutions to solve it.
Here are a few ways that the healthcare crisis may already be affecting you and your future.
The Healthcare Crisis Affects Your Job
In the past 10 years the cost of healthcare to American business has increased 140%, meaning companies are shifting a greater portion of healthcare costs to individuals, cutting back benefits or even cutting back on employees altogether. Starbucks, whom most of us visits, now spends more on healthcare than it does on coffee beans.
The Healthcare Crisis Affects Your Family
Throughout their lives, many have worked hard to earn the benefits of the Medicare program in their retirement, much as the baby boomers who stand to nearly double the Medicare enrollment from 36 million in 2006 to 70 million by 2030. An entire generation of Americans' healthcare is at risk due to rising costs that at current, stand to bankrupt the Medicare Hospital Trust Fund by 2019. If so, then who is going to be left to pick up the bill?
The Healthcare Crisis Affects Your Peers
The rising cost of healthcare means nearly 30% of Americans between 18 and 24 have no health insurance and almost 27% of 25-34 year olds are uninsured. While they may be healthy today, without access to regular preventative care developing a chronic condition becomes ever more likely and as we all know, accidents do happen and the emergency room is not a cheap place to visit.
The Healthcare Crisis Affects Your Government
Medicare benefits currently amount to $34.1 trillion in unfunded financial obligations leaving a burden of $115,000 per individual (good thing our current national deficit is only $10 trillion). Every public dollar diverted to healthcare means more governmental debt and less funding for other vital needs such as education, national security, transportation, fighting poverty and fighting crime.
To learn more about the healthcare crisis, check out the healthcare statistics at Know the Facts or watch the video below.