Healthcare: Numbers Count
By November 20, 2013 0 745•
Mark Twain said, “There are lies, damn
lies, and statistics.”
Numbers matter. They tell a story.
Eighteen percent is the amount of national
income spent on healthcare. Almost one of
every five dollars.
With more than 10,000 people reaching age
65 each day and healthcare costs increasing, that
number will reach 20 percent within a few years.
Thirteen percent is the amount of the nation’s
total income we, as a nation, pay in income tax.
$50,000 and $15,000.
$50,000 is the average annual household
income in the country. $15,000 is the annual
cost of health insurance for the average household.
45 percent and declining. 25 percent and
45 percent is the percentage of the population
that is covered by employer provided health
care, even though employer-provided healthcare
is the basis of our national system.
Several years ago, the majority of the population
was covered by employer provided healthcare.
Not only is employer-provided healthcare
declining, but an increasing amount – now 25
percent – of the cost of employer’s cost is now
paid by the employee.
$1 trillion and 26 percent.
Government spending on healthcare, including
Medicare for the elderly, Medicaid for the
poor, and the military and VA, exceeds $1 trillion
and 26 percent of all government spending.
Within ten years, these costs are projected to
$600 billion and 2.9 percent
Medicare costs $600 billion. The 2.9 percent
Medicare payroll tax brings in $225 billion.
Adding the $75 billion in Medicare premiums
charged to seniors and deducted from their social
security checks, only half the cost is covered.
The taxpayer covers the rest.
$400 billion and 11 percent.
Medicaid and military-based health costs
over $400 billion, more than 11 percent of government
spending, all of which is paid by the
Fifty years ago, only 2 percent of government
was on healthcare. Today, it’s 26 percent
and growing. Fifty years ago, less than 5 percent
of the economy was healthcare; today it’s 18
50 million or 16 percent.
50 million people, or 16 percent of the population,
have no health insurance, but receive care
simply by going to a hospital. Taxpayers and
insured people pay more to cover those costs.
Medicare is an example of how insurance
is supposed to work. Everyone pays the 2.9
percent Medicare tax on wages. (The Medicare
tax does not apply to other income.) Everyone,
including the young and healthy, pays over their
lifetime so that all seniors have healthcare.
National healthcare costs can be covered
in one of three ways: The government could
tax and cover everyone like most countries
do. Everyone could be required to have insurance,
the premise behind Obamacare (and
Romneycare). The uninsured and poor could be
45 and zero.
Congressional Republicans have voted 45
times to repeal Obamacare.
None. Zero. Nothing. Nada. Zip. Zilch.
Despite objecting to Obamacare, Republicans
have offered no alternative.
The national healthcare system does not
work and is consuming the economy. Employerprovided
healthcare costs are shifting increasingly
to employees with the taxpayer picking up
increasingly more costs.
Mark Twain was funny, but wrong.
Healthcare statistics are not a lie.
Healthcare costs are consuming more and
more of everyone’s wallet.