Facts on Health Care Costs

This is what my boss grant Born gave to us in our Monday morning meeting to help us understand what is happening in the health care crisis so that we can help all of you more efficiently;

By several measures, health care spending continues to rise at the fastest rate in our history. In 2007, total national expenditures were expected to rise 6.9 percent -two times the rate of inflation. Total spending was $2.3 TRILLION in 2007, or $7600 per person. Total health care spending represented 16 percent of the gross domestic product (GDP).

U.S. health care spending is expected to increase at similar levels for the next decade reaching $4.2 TRILLION in 2016, or 20 percent of GDP.

In 2007, employer health insurance premiums increased by 6.1 percent-two times the rate of inflation. The annual premium for an employer for single coverage averaged over $4400.
Experts agree that out health care system is riddled with inefficiencies, excessive administrative expenses, inflated prices, poor management, and inappropriate care and health issuance for employers and workers and affect the security of families!

Stay tuned for part two of this four part series on health care and what you need to know to protect yourself.