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Health Insurance Costs Rising Question & Answers

2013 August 12
by Sarah Fields

Sharon asks…

If the cost of health insurance continues to increase at 8% per year, how soon will it be unaffordable for you?

Health Insurance seems to be going up much faster than wages, there is no end in sight as the population ages and costs continue to rise.

What is your personal situation? How soon before you fall off the affordability factor.

Any person experiences will be welcomed.

Sarah Fields answers:

First of all, Obama wants to make insurance more available to all. And change the system so that it is cheaper, and also so that the insurance companies find it harder to get out of paying for treatment. The system he is proposing looks similar to that which works in Holland and Switzerland where private companies are involved in providing insurance. If no changes are made, healthcare will become too expensive for many, and the global recession should show you that many become unemployed through no fault of their own.

Second, of course universal health-cover sucks. That is why we in Western Europe have it. We think, hmm, our healthcare system sucks. I know, lets keep it. I guess that is the same with Japan and Canada as well.

FACT – the USA spends more on healthcare PER PERSON than any other nation on the planet.

FACT – the US has higher death rates for kids aged under five than western European countries with universal health coverage.

That means that a dead American four year old would have had a better chance of life if they were born in Canada, France, Cuba, Germany, Japan etc, all of which have universal health coverage.

Thomas asks…

What have you cut back on to pay for the rising cost of gasoline and groceries?

My mad money that is left after paying for bills have been cut in half during the last year, all due to the rising costs of groceries, gasoline and health insurance. I have cut back on going out to dinner and movies.

What have you cut back on to pay for the cost of these things?

Sarah Fields answers:

There are many cutbacks that can be made. First of all, things like coffees and bottle water add up SO quickly. I use to stop at Dunkin’ Donuts everyday, and know I bring my coffee from home in a travel mug. I also bought a water filter and a plastic reusable bottle and use that now instead of buying bottled water. You can also try to cut two minutes off every shower and that will save on your water bill. Also do not leave the water running while brushing your teeth. My husband and I have just started using our clothesline instead of the dryer. I ride my bike to the store instead of driving the one mile. We cut back on our cable and get fewer channels now which is ok because we realized that there was really only four channels we watch on a regular basis. LOST is on tonight! Woohoo… Anyways, we also got rid of our home phone and just use our cellphones now. I also make a menu for the week and try to incorporate the same produce on several different occasions so that way we use it all up instead of throwing it away when it turns brown. We realized how much food we had been wasting by using only half a tomato here and half an onion there. Now we are able to use the whole thing in a couple different meals. That has saved us the most $$$. And if you are able to, try to carpool. And good luck, I know it hurts.

Betty asks…

Why do conservatives think Obamacare is the cause of high insurance/medical costs?

The private insurance market has been driving up the costs of health insurance and medical care for the last 20 years. In some cases health insurance premiums were rising by as much as 50% per year. Meanwhile, coverage plans were dropping procedures and HMOs were refusing to accept those with preexisting conditions.

The Affordable Care Act is not the cause of any of this. The independent CBO (which the Republicans praised under Bush) estimates that the Act will save $1.7 trillion over 10 years.

Sarah Fields answers:

Despite GOP Slam, CBO Confirms Health Care Savings

Despite repeated Republican attacks on CBO’s earlier analysis that showed a $143 billion reduction in the deficit from reform, the non-partisan CBO found little evidence to change its findings.

Http://www.thefiscaltimes.com/Articles/2011/01/06/Despite-GOP-Slam-CBO-Confirms-Health-Care-Savings.aspx#page1

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