Health Care and Insurance Fees to Consume 1/3d of typical family income by 2022
By 2022, the typical family will pay 1/3d of their income to the health insurance and health industry industrial complex:
It is difficult to see how the U.S. will remain competitive in any economic activity when, over time, all of our income will be spent on health insurance and health care industries.
Individual purchasers of pre-paid health care (aka health insurance) – and only individual purchasers – are required by ObamaCare to purchase a rich package of Federally defined “benefits”. Corporations and government are exempt from this requirement.
Among the oddities, under ObamaCare, the elderly and women who have had hysterectomies and men who have had vasectomies are required by ObamaCare to purchase maternity care insurance. Those who do not drink, smoke or do drugs are required by ObamaCare to purchase drug abuse counseling insurance.
Those who purchase medical devices – say an Epi-Pen to prevent loss of life due to food allergies – will pay an additional 2.3% tax to fund ObamaCare. (Epi-Pens, which used to be sold individually, are now sold only as a pair. Why sell one when you can sell two for twice as much? Cost: $232 every year.)
What a mess. That certainly inspires confidence 🙂