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Health care costs are rising faster than the rate of inflation

Health care costs are high no doubt about it. For a person not covered at work the price for family coverage is staggering. Sure you can get cheap coverage but the deductible us usually sky high and normally not much is covered. Finding a family physician to accept it is another story altogether.

Many people would like to see the government take over health care but this fails every time it is tried. Take Canada’s health care system for example. All I can say is don’t get sick in Canada. Canada’s best trained health care professionals are flocking to the US for high paying stable jobs and residencies in the medical profession. Provincial governments have frozen the number of residency positions at teaching hospitals, so many graduates will be excluded from the training they need to get licensed. Currently millions of Canadians can’t even find a family doctor because of the shortage of residencies at training hospitals have caused a shortage of practicing physicians.

Between 1999 and 2003 health care coverage has increased 39% while the average cost of living only increased 14%. At this rate in the near future if something isn’t done health care will only be affordable by 3% of the population. By 2006 health care costs are expected to exceed $14,500 / year for the average family. This increase is growing by five times the rate of inflation.

Experts agree that our health care system is riddled with inefficiencies, inflated prices, excessive expenses, inappropriate care, poor management, waste and fraud. These problems are the root of high costs to consumers and employers.