It’s no surprise to American citizens that health care costs are on
the rise. How far will it go? According to recent predictions, some
suggest that in the next few decades, health care costs may surpass an individual’s entire annual income. Already today, sacrifices are being made. In order to keep paying for health insurance, some Americans may be making sacrifices such as skipping their rent payment, eating less, and going to other extreme measures just to be able to afford having health care for themselves and/or their families.
What we all may not realize, is that as the health care costs are on a constant incline, average family incomes are staying at a steady
level. Health care costs are rising much more rapidly than inflation,
so even in the event a that working citizen receives an annual
inflation raise, it would still not cover the cost to maintain health
insurance premiums. It is apparent that the increase in health
insurance costs put a burden on American workers, but it also
adversely effects employers/business owners as well. Not only do the
employees’ paychecks suffer from having to dish out more of their pay
to cover for insurance, it also poses issues for the employers.
Businesses now have to pay more out of pocket to provide insurance to
their employees. Thus resulting in companies raising the percentage
that their employees have to pay for health care, or in the same
sense, lowering the percentage the company itself pays for the portion
of a given employee’s insurance. This could result in having to change
company policies regarding insurance coverage.