SHOULD WE START A POOL?
Thank Goodness it’s over. (You know what I mean.)
Question.
Politicians have been talking about the “skyrocketing cost of health care” for decades. How come that wasn’t the case in recent months?
BTW, as a % of GDP, here’s a recap of our national
healthcare expenditures over the past several decades:
- 1960 5%
- 1970 6.9%
- 1980 8.9%
- 1990 12.1%
- 2000 13.3%
- 2010 17.4%
- 2020 19.7%
Inflation impacts every industry, but thanks to the fact Insurer contracts with Health Systems are usually multi-year with staggered renewals, there will be a delayed reaction in health care.
That means when the price of eggs, milk and gas start abating, health care will be just rolling to the launch pad.
So here’s a prediction.
When the 2024 election cycle begins - we should
start a pool as to what date* the first ad will appear - health care could be the number one issue again.
Looking at those numbers above, how soon before some ‘expert’ says that trend is “unsustainable?”
Really? After 60+ years?
Kind of like “transitory” inflation!
* I’m in for $5 and say 2/20/’23 (President’s Day). Care to play? Odds are better than
Powerball!
