January 25, 2009
The rising cost of healthcare in today’s economy is in desperate need of reform. The cost of healthcare has affected the number of people able to receive medical care. Individuals are suffering more than ever because of the inability to receive medical attention when it’s needed.
First, the rising cost of healthcare is going to continue to rise year after year. This is making it harder and harder on working class to receive medical care. It is even harder on the unemployed. As President Obama is urging congress for a stimulus this year, many feel that medicine is the best stimulus. America needs a healthy economy. After all, healthcare isn’t a luxury, it’s a necessity. Today the healthcare deduction is getting bigger and bigger. Despite a huge amount of complaints about “over insurance”, the amount people pay for healthcare out of pocket has risen tremendously. The Commonwealth Fund recently completed two massive surveys showing that the proportion of adults younger than 65 with health insurance who spent more than 10 percent of their income on health care out of pocket (5 percent for low-income adults) skyrocketed fro 13.8 million in 2003 to 21.8 million in 2007. (Jacob S. Hacker, Co-Director of the Center for Health, Economic and Family Security at UC Berkeley). This is in response to the hike in deductibles and co-payments in health plans. There are 40 percent of the working-age populations in an immediate economic bind because of medical costs.
Second, because of the rising cost of healthcare, 2009 will be a critical year for health care. Sen. Charles Grassley (r-Iowa) says “healthcare reform must be a priority”. It will especially be a critical year for Medicare. It is clear that major changes in Medicare are offing. The Finance Committee will move forward on comprehensive health reform early this year says committee chairman Sen. Max Baucus (D-Mont.). Fixing healthcare isn’t...