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Health Care Costs, Spending Up
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Issue
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| Contributor | RP |
| Last Edited | RP Jun 21, 2005 08:16pm |
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| Category | Analysis |
| Media | Newspaper - Washington Post |
| News Date | Wednesday, June 22, 2005 02:15:00 AM UTC0:0 |
| Description | After hints that the rapid growth in health care spending was slowing, a report being released today suggests the brief reprieve has stalled and the soaring costs are likely to force more people out of the market.
More significantly, for the eighth straight year the growth in medical costs far outpaced the growth of wages -- by nearly four times in 2004 -- a trend that suggests more Americans will be unable to afford their health insurance, said the group's president, Paul Ginsburg
As health costs have risen over the past decade, more businesses have scaled back or dropped coverage entirely. The first group hit were poor workers, but Ginsburg said the trend is continuing into higher-wage groups.
"Low-income people got priced out of private insurance a long time ago," he said. "Now it's working into the middle class." |
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