Tuesday, September 27, 2011

Health Insurance *Has* to Be Fixed in 24.6 Years

Here's another ridiculous chart from the Kaiser Family Foundation, showing the projected cost of a health insurance policy for a family of four: over $32,000 by 2021. Policies bought in the individual marketplace will surely be higher.

Clearly this seems absurd, and that something has to be done before then. But I would have thought the same things 10 years ago, yet rates have more than doubled since then with little-to-nothing having been put in place to address the problem. Why should the next ten years be any different, especially when the Supreme Court is sure to strike down the heart of the PPACA (after all, they all have nice government health insurance) and Republicans determined to institute "free market" principles even if they have to restart the country back in 1850 to do it.

Well, something has to happen by 2036, when health insurance will cost 100% of median salary(*). Amazingly, that is also when an asteroid could slam into Earth. See how this is all beginning to make sense...?

* Assumes 2011 median family income is $47,000/yr and increases at a annual rate of 3%, with the 7.9% annual increase in health insurance premiums implied by the projection above.

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