Wow, way back in the 60’s individuals out of pocket for medical expenses was about 40% of the charges. It 2008 it was just below 12%.
What the article fails to note is the sense of entitlement that exists when the general public pays so little for healthcare. The article concludes…
Much of the rationale behind the current reform of the healthcare system is about controlling inflation in healthcare costs. However, based on the trend presented above, a better alternative to the semi-nationalization that the president has in mind would be to increase individual responsibility for medical decisions and costs. When people aren’t exposed to the true cost of their care—even if they pay for it in foregone wages and higher taxes—they consume more.
Yes indeed.
