What's Threatening Our Healthcare System?

No, it's not an epidemic or an earthquake or another hurricane Katrina. It's health care cost inflation, which in 2007 (the year before the US government really started to run the Treasury's money printing presses overtime at full speed) was about twice the general inflation rate. The Medicare population is a prime inflation victim, as its members observed when their Federal Medicare premium and private (i.e., AARP) Medigap premiums increases wiped out their Social Security inflation adjustments robbing resources from food, clothing, shelter and donut hole prescriptions.

The health care inflation rate, at 6.9% was double the general inflation rate; employers paid an increase of 6.1% for health insurance benefits with typical insurance family insurance premiums of about $12,000 per. Our bill for all health care products and services is heading towards 3 trillion dollars.

As our citizens, in increasing numbers, age and become ill, the cost of their care will be reflected in health care inflation. As new technologies, pharmaceuticals and advanced biologic products are introduced, their costs will be reflected in health care inflation. And as the numbers of those needing expensive new services increase, insurers and other intermediaries will elbow their way up to the trough to demand their share of resources as a reward for their roles in "managing" health care.

When resources are devoured by wasteful programs and unnecessary bureaucracies, food, mortgages, education, defense, transportation will be shortchanged. That will not be sustainable.

This Thanksgiving, let us be grateful for our country's world leadership, the affirmative role it plays in our lives, our ability to meaningfully participate in government, prosperity (for many), and the opportunities Americans enjoy to enjoy freedom of thought, action and religion. And let us resolve to provide appropriate health care to all Americans in a kind, humane, efficient system which alleviates pain and suffering and extends valuable life.