How Does Medicare Impact The Economy?

We Devote About 17 Percent Of Our Gross Domestic Product To Health Care

Despite such high spending, millions of Americans do not receive the care we need. Unlike every other wealthy industrialized democracy, ours does not guarantee health insurance or health care. According to the United States Census Bureau, more than 45 million Americans lack coverage, excluding Medicare insurance.

No One Seems Immune From The System’s Ailments

The 59 percent of Americans with employer-provided insurance (or not Medicare coverage) have watched our coverage diminish even as our costs continue to rise. The 18 million or so of us who buy medical coverage on the private market often find ourselves in a running battle with insurers over medical claims–assuming we even find affordable plans, which is unlikely for those with a preexisting condition.

Small Businesses Are At Risk From A Possible Health Care Crisis

Small businesses struggle to provide health coverage for their workers, lacking the ability to spread insurance risk as effectively as large employers can. Medical bills are a leading influence in more than half the country’s personal bankruptcies, research shows. The United States ranks 31st in the world for life expectancy and 37th for infant mortality, according to data from the World Health Organization.

Health-Care Spending Is Threatening To Ruin Our Finances And Swallow Our Economy

The country’s fiscal dilemma–the CBO projects the federal public debt will reach $20 trillion, 90 percent of gross domestic product, by 2020–are rooted above all in the burgeoning costs of Medicare and Medicaid, with the baby-boomer retirement wave still to come. The rising cost of insurance adds to the stagnation of our wages. Every dollar that goes into health care means less to spend on education, infrastructure, and renewable energy.

One Response to “How Does Medicare Impact The Economy?”

  1. jane coale says:

    1 reason why our medical system is a huge failure is free healthcare is always abused. Selfemployed we always had a high deductible so we cured ourselves naturally to save the $5000. (59 yrs old and never had a claim). Once free people run to ER for every little problem, rack up huge bills, many times finding nothing. Doctors just want to treat a symptom, not cure the underlying problem. If everyone followed my ideas we would bankrupt Big Pharma and save our gov’t. Research Homemade sauerkraut, ACV, garlic, and proper body ph and lots of our ills can be eliminated,but care is free, seniors would rather pop 10-15 pills (free) to make them sicker. It is an expensive downward spiral but I am constantly around seniors and they do not do much to make themselves healthier once the doctors have them brainwashed.