Last month I noted that the real issue in healthcare reform was neither Obamacare nor Trumpcare - it was the incessantly increasing costs of healthcare to the US economy and taxpayer. I've since come across an essay by Charles Hugh Smith that provides very informative comparisons.
In 1952, it cost $30 to have a baby in an excellent hospital. If we adjust that by official inflation as measured by the Bureau of Labor Statistic's inflation calculator to 2017, the cost would be $275. ($1 in 1952 = $9.16 in 2017).
What does it cost to have a baby delivered in a hospital today? $5,000? $10,000? Who even knows, given the convoluted billing process in today's sickcare system?
The pharmaceutical cartel jacks up medication costs per dose from $3 to $600, even when the medication has been around for decades: the Pinworm prescription jumps from $3 to up to $600 a pill Parents, doctors angry over drug price gouging (via John F.)
My father paid 1.8% of his wages for "hospital group insurance" in the early 1950s (for a household of four kids and two adults.) For someone earning $1,000 a week, the equivalent today would be $72 a month out of a monthly gross income of $4,000.
My spouse and I pay $1330 a month for barebones healthcare insurance in today's sickcare system. Factor out subsidies paid by the employer or state, and minimal healthcare insurance costs tens of thousands of dollars per household annually.
Here's a chart that illustrates the breathtaking rise in healthcare costs. Wages are the nearly flat line:
There's more at the link, and in Mr. Smith's regular articles at his blog. I highly recommend you drop in there from time to time, and read what he has to say. It's always interesting.
I think Mr. Smith's article reinforces what I said last month. Unless and until we get healthcare costs under control, it doesn't matter what system of healthcare our politicians inflict on us - it still won't work in the long run. We'll end up bankrupt, as individuals and as a nation.