By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    Medical device classification and development strategies
    Medical device classification and development strategies
    April 5, 2023
    varicose veins
    Varicose Veins Prevention: 3 Lifestyle Changes to Make Right Now
    May 1, 2022
    Things You Should Know Before Buying Golden Teacher Mushrooms Spores
    Things You Should Know Before Buying Golden Teacher Mushrooms Spores
    September 15, 2022
    Latest News
    Beyond Nutrition: Everyday Foods That Support Whole-Body Health
    June 15, 2025
    The Wide-Ranging Benefits of Magnesium Supplements
    June 11, 2025
    The Best Home Remedies for Migraines
    June 5, 2025
    The Hidden Impact Of Stress On Your Body’s Alignment And Balance
    May 22, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Aaron Carroll Defends Retail Clinics
    December 13, 2011
    Health Wonk Review – Opening Day Edition
    September 11, 2017
    Cigarette Warning Labels May Go Up in Smoke
    January 9, 2012
    Latest News
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
    Top HIPAA-Compliant Messaging Apps for Healthcare Teams
    June 25, 2025
    When Healthcare Ends, the Legal Process Begins: What Families Should Know About Probate and Medical Estates
    June 20, 2025
    Preventing Contamination In Healthcare Facilities Starts With Hygiene
    June 15, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Health Insurance is Expensive; I’m Glad Folks are Finally Learning the Truth
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Health Insurance is Expensive; I’m Glad Folks are Finally Learning the Truth
Business

Health Insurance is Expensive; I’m Glad Folks are Finally Learning the Truth

DavidEWilliams
DavidEWilliams
Share
3 Min Read
SHARE

Bloomberg (Unaffordable Cost Seen for Some Under Affordable Care Act) highlights the challenges many of the newly insured will have in paying for coverage, even with the substantial subsidies available to those with lower incomes. The story leads off with the tale of a 28 year old with lymphatic cancer. She and her husband have a combined income of $25,000 but will have to pay $1000 or so in premiums plus out-of-pocket costs of a similar magnitude.

Bloomberg (Unaffordable Cost Seen for Some Under Affordable Care Act) highlights the challenges many of the newly insured will have in paying for coverage, even with the substantial subsidies available to those with lower incomes. The story leads off with the tale of a 28 year old with lymphatic cancer. She and her husband have a combined income of $25,000 but will have to pay $1000 or so in premiums plus out-of-pocket costs of a similar magnitude. They are understandably upset and the expenses will be a burden.

The unfortunate truth is that health care is so expensive in this country that there are not enough rich people to shift the costs onto. Premiums for my family exceed $20,000. You have to make a pretty good income to comfortably afford the full cost. From the article:

A family of four earning $75,000 will pay $7,125 in annual premiums and as much as $8,333 in co-pays and deductibles, according to a preliminary estimate by the Kaiser Family Foundation. A single 40-year-old earning $30,000 will pay $2,509 in premiums and as much as $3,125 in cost sharing. For a 60- year-old making $40,000, the amount will be $3,800 in premiums and up to $4,167 in out-of-pocket costs, according to Kaiser.

More Read

Pin Your Fans to Your Brand: Join Pinterest!
A Look at Oncology Medication Management
Integrating Chronic Disease Management With New Health Delivery Mechanisms
The Doctor’s Not In. You’ll Have to See a Nurse.
Are Your Vendors Ready for ICD-10?

Although the article takes a somewhat alarmist tone, there is value in having the population as a whole gain some understanding of the real cost of health care. In aggregate health care is more expensive than food, rent, clothing or transportation, so it’s not unreasonable for a family budget to reflect that fact.

Ideally the increased awareness of the magnitude of health care costs will create a broad-based constituency that favors cost containment. Massachusetts is probably ahead of other states on this topic. With near-universal coverage in place Massachusetts residents are now facing the serious challenge of maintaining what we’ve achieved. The sooner that happens on a national level the better.

 


TAGGED:health insurance costs
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

9 Lifestyle Tweaks That Can Add Years to Your Life
9 Healthcare Lifestyle Tweaks That can Add Years to Your Life
lifestyle
July 11, 2025
car accident lawsuit
Let Your Lawyer Handle the Work Before You Pay Medical Costs
Policy & Law
July 6, 2025
women dental care
What Is a Smile Makeover and How Much Does It Cost?
Dental health
June 30, 2025
HIPAA-Compliant Messaging Apps
Top HIPAA-Compliant Messaging Apps for Healthcare Teams
Global Healthcare Policy & Law Technology
June 25, 2025

You Might also Like

iStock_000015301424_Small
BusinessHospital Administration

There May Be Zombies in Your Hospital

July 24, 2014

Cost of Medical Errors: $17 billion

April 7, 2011

Health Economics and Outcomes Research: Why a Wise Manufacturer Should Think of It Early and Often

March 4, 2012

Are We Picking on VA Hospitals Too Much?

June 8, 2014
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?