As we saw in the last graphic, private businesses are shouldering 20% and households 28% of the skyrocketing costs of our inefficient healthcare “crazy quilt.” Much of that is in the form of premiums for private insurance.
The average premium for family coverage in an employer-sponsored health insurance plan went from $5,800/year in 1999 to over $18,000/year in 2016. That’s a whopping 213% increase in just 17 years (regular inflation was just 44% during that same time period).
Even worse, the worker contribution share (red portion) for a family plan has jumped from about $1,500/year to over $5,000/year (a 242% increase!). And that doesn’t even include higher deductibles and other cost-sharing being shifted to workers. Of course, employers ultimately pass all the premium costs onto employees by keeping wages flat.
And contrary to right-wing talking points, these rising costs clearly did not begin with the passage of ObamaCare in March 2010. As a matter of fact, the years showing the greatest annual percent increase (13%) were actually 2002 and 2003. Cumulatively, the Bush years saw a 97% increase in premiums of employer plans ($6,438 almost doubled to $12,680, while Obama cut that growth by more than half to 43% over his eight years ($12,680 grew to $18,142).
A Medicare-For-All single-payer system would get the health insurance monkey off the backs of employers and free up workers to negotiate for better wages instead of always playing defense just to maintain adequate healthcare coverage.
For more on that topic, I highly recommend watching the new documentary “FIX IT: Healthcare at the Tipping Point”: http://fixithealthcare.com
The amount of irrational waste and misallocation that happens under capitalism is endless. There is a better way and we’re working towards it. Join us. #trysocialism
Amidst the endless flow of disinformation coming from the White House, let us not forget there are still many unanswered questions surrounding Trump’s, his campaign’s and his administration’s ties to Russia.
1) Did the Trump campaign collude with Russia to win the election?
2) Is Trump susceptible to blackmail from Russia?
3) How can we go forward in sharing intelligence information with our allies if they are unsure as to the security of this intelligence?
4) How far does the relationship between Trump and Russia go?
5) What’s the real reason Trump won’t release his tax returns? Does he have financial ties to Russia that he does not want to reveal?
The American people are entitled to answers.