Navigating the High Seas of Healthcare: A Look at Rising Costs
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There’s this weird feeling that you get each year if you live in the United States. It usually comes with a quizzical look and a similar question, “how are my insurance premiums increasing when my coverage and deductibles are staying the same?”
Logic would say that it’s inflation. But where is that inflation coming from?
That’s what we want to chat about in this edition of Your Healthiest Life.
Premiums and Out-of-Pocket Expenses are Moving Together
We created this handy chart for anyone to see how closely the numbers are moving together easily.
The irony is that in all other industries, the more your price increases for a good or service, the more the quality of that good or service increases as well. There is inflation to be involved, but the two never move in lockstep. When you move from a local grocery store to Whole Foods, your options change.
The same thing happens when you buy a new car. Your cost increases, but so do the features.
We could go on, but you get the point.