REFLECTIONS

Posted on October 2, 2011

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HEALTH INSURANCE PREMIUMS SURGE

U.S. NEEDS SINGLE -PAYER HEALTH CARE

Obamacare will not be fully implemented until Jan. 1, 2014. Until then, we are still at the the mercy of profit motivated insurance companies, and they are taking advantage of that. In many ways, the health insurance companies will still be in control after the 2014 date.

The total cost of U.S. health insurance premiums (the sum of employer plus employee premiums) has risen 9 percent to $15,073 peer year for a family of four this year. Our Canadian peers pay 4.5 percent income tax for universal health care coverage that they love.

A little basic math shows that if U.S. health care insurance premiums of $15,073 represented 4.3 percent of an American family’s gross income, we would have to earn a total annual income of almost $335,000 to buy for-profit health insurance at the equivalent price that our northern neighbors enjoy. And, by 2014 the health care insurance premiums will be higher then what they are today.

It’s time to let common sense trump insurance company lobbyists’ self-serving campaign of misinformation. It is time to implement single-payer universal health care in the U.S. Many politicians did not want single-payer universal health care when the Obama administration proposed such a plan at the beginning of the president’s term of office, but that is the only way health insurance companies will be regulated.

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