Today IABŪ continues to offer what is
regarded in the industry as the most
progressive and needed benefits package in
the U.S.
July 7, 2006 (Press Release) --
By several measures, health care spending continues to rise at the fastest rate in our history.
In 2004 (the latest year data are available), total national health expenditures rose 7.9 percent -- over three times the rate of inflation. Total spending was $1.9 TRILLION in 2004, or $6,280 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 TRILLION in 2015, or 20 percent of GDP .
In 2005, employer health insurance premiums increased by 9.2 percent - nearly three times the rate of inflation. The annual premium for an employer health plan covering a family of four averaged nearly $11,000. The annual premium for single coverage averaged over $4,000.
Experts agree that our health care system is riddled with inefficiencies, excessive administrative expenses, inflated prices, poor management, and inappropriate care, waste and fraud. These problems significantly increase the cost of medical care and health insurance for employers and workers and affect the security of families.
National Health Care Spending
In 2004, health care spending in the United States reached $1.9 trillion, and was projected to reach $2.9 trillion in 2000.
Health care spending is 4.3 times the amount spent on national defense .
In 2004, the United States spent 16 percent of its gross domestic product (GDP) on health care. It is projected that the percentage will reach 20 percent in the next decade .
Although nearly 46 million Americans are uninsured, the United States spends more on health care than other industrialized nations, and those countries provide health insurance to all their citizens.
Health care spending accounted for 10.9 percent of the GDP in Switzerland, 10.7 percent in Germany, 9.7 percent in Canada and 9.5 percent in France, according to the Organization for Economic Cooperation and Development.
Employer and Employee Health Insurance Costs
Health insurance expenses are the fastest growing cost component for employers. Unless something changes dramatically, health insurance costs will overtake profits by 2008 .
According to the Kaiser Family Foundation and the Health Research and Educational Trust, premiums for employer-sponsored health insurance in the United States have been rising five times faster on average than workers' earnings since 2000 .
The percentage of Americans under age 65 whose family-level, out-of-pocket spending for health care, including health insurance, exceeds $2,000 a year rose from 37.3 percent in 1996 to 43.1 percent in 2003 - a 16 percent increase.
The Impact of Rising Health Care Costs
A recent study by Harvard University researchers found that the average out-of-pocket medical debt for those who filed for bankruptcy was $12,000. The study noted that 68 percent of those who filed for bankruptcy had health insurance. In addition, the study found that 50 percent of all bankruptcy filings were partly the result of medical expenses . Every 30 seconds in the United States someone files for bankruptcy in the aftermath of a serious health problem.
Time for Action on Reining in Health Care Costs
In 2004 (the latest year data are available), total national health expenditures rose 7.9 percent -- over three times the rate of inflation. Total spending was $1.9 TRILLION in 2004, or $6,280 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 TRILLION in 2015, or 20 percent of GDP .
In 2005, employer health insurance premiums increased by 9.2 percent - nearly three times the rate of inflation. The annual premium for an employer health plan covering a family of four averaged nearly $11,000. The annual premium for single coverage averaged over $4,000.
Experts agree that our health care system is riddled with inefficiencies, excessive administrative expenses, inflated prices, poor management, and inappropriate care, waste and fraud. These problems significantly increase the cost of medical care and health insurance for employers and workers and affect the security of families.
National Health Care Spending
In 2004, health care spending in the United States reached $1.9 trillion, and was projected to reach $2.9 trillion in 2000.
Health care spending is 4.3 times the amount spent on national defense .
In 2004, the United States spent 16 percent of its gross domestic product (GDP) on health care. It is projected that the percentage will reach 20 percent in the next decade .
Although nearly 46 million Americans are uninsured, the United States spends more on health care than other industrialized nations, and those countries provide health insurance to all their citizens.
Health care spending accounted for 10.9 percent of the GDP in Switzerland, 10.7 percent in Germany, 9.7 percent in Canada and 9.5 percent in France, according to the Organization for Economic Cooperation and Development.
Employer and Employee Health Insurance Costs
Health insurance expenses are the fastest growing cost component for employers. Unless something changes dramatically, health insurance costs will overtake profits by 2008 .
According to the Kaiser Family Foundation and the Health Research and Educational Trust, premiums for employer-sponsored health insurance in the United States have been rising five times faster on average than workers' earnings since 2000 .
The percentage of Americans under age 65 whose family-level, out-of-pocket spending for health care, including health insurance, exceeds $2,000 a year rose from 37.3 percent in 1996 to 43.1 percent in 2003 - a 16 percent increase.
The Impact of Rising Health Care Costs
A recent study by Harvard University researchers found that the average out-of-pocket medical debt for those who filed for bankruptcy was $12,000. The study noted that 68 percent of those who filed for bankruptcy had health insurance. In addition, the study found that 50 percent of all bankruptcy filings were partly the result of medical expenses . Every 30 seconds in the United States someone files for bankruptcy in the aftermath of a serious health problem.
Time for Action on Reining in Health Care Costs
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