While the federal government plans to bail out the financial sector with $700 billion of taxpayer dollars, a growing number of tax payers are grappling to get themselves out of debt from unpaid health care bills.
Yesterday’s New York Times discussed two studies released on Wednesday by the Kaiser Family Foundation and the Center for Studying Health System Change. The studies show that more and more American families have debt from health care.
"Premiums for employer-sponsored health insurance rose to $12,680 annually for family coverage this year – with employees on average paying $3,354 out of their paychecks to cover their share of the cost," said the Kaiser Family Foundation news release of the study.
About 57 million Americans live in families struggling to pay their
medical bills. Of that group, 43 million people have some sort of
insurance coverage (often with very high premiums and deductibles) but
are still under financial stress.
One of the study’s conclusions
was that "…insurance coverage in and of itself may no longer be
sufficient to protect many people from the high cost of health
Perhaps this is renewed evidence of the need for government
The hands-off approach didn’t work out too well on Wall Street. Is health care next?