Why the Economic Crisis Shouldn't Mean Putting Off Health Care

By Monica Sanchez, Campaign for America's Future. Posted November 24, 2008.

The New America Foundation recently released a report highlighting "The Cost of Doing Nothing" on health reform:

"Our economy loses hundreds of billions of dollars every year because of the diminished health and shorter lifespan of the uninsured. Rising health care costs undermine the ability of U.S. firms to compete internationally, threaten the stability of American jobs, and place increasing strain on local, state, and federal budgets. As health care costs continue to rise faster than wages, health insurance becomes more and more unaffordable for more and more American families every day. ...

"We must reform our struggling health system not in spite of our economic crisis, but rather because of the impact health care has on the American economy. The economic and social impact of inaction is high and it will only rise over time." [Emphasis added]

The data is on the side of those pushing for action on health care reform now.

Another report has come out showing people's lives are in jeopardy because health care is too expensive. The Commonwealth Fund released survey results that reveal more than half of chronically ill adults in the United States skip needed care because they can't afford it. The survey also reports U.S. patients face more medical errors and inefficient, poorly organized care than patients in seven other industrialized countries.

Karen Davis of the Commonwealth Fund told the Washington Post: "We cannot afford not to reform our health-care system. Investment in our health-care system will pay dividends in terms of a healthy workforce and economically secure families."

The need for immediate reform of our health care system is made even more starkly apparent by the projected costs of annual family health insurance premiums put out by Jennifer E. DeVoe, a physician and researcher at the Oregon Health and Science University. DeVoe estimates that health care premiums will top $80,000 by 2025, which will be higher than the projected average household income for the same year.

DeVoe based her projections on the most recent census figures and medical expenditure survey data. She added that factoring in the reality of high deductibles and co-payments, the average health care premium and out-of-pocket costs could exceed the average income before 2025.

Paying $80,000 a year for health insurance! THAT is an economic crisis!

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