Interview with America's Health Insurance Plans' (AHIP) CEO Matt Eyles (March 19th)
www.thehealthcarepolicypodcast.com
Listen Now Despite gains made under the ACA, health insurance coverage in the US remains fraught with problems. Over 28 million non-elderly remain uninsured. Health care spending is extreme. Health care coverage is the most expensive worldwide in absolute terms and relative to average incomes – despite the fact Americans consume no more or fewer health care resources than our comparative peers. In 2018, an insurance premium for a family of four was $19,616 or almost one-third of median household income of $61,372. Several factors explain this. Among others, while Medicare spending per capita decreased by 1.2% between 2007 and 2014 however for private insurance spendingincreased per capita by 16.9%. Rapidly rising drug prices, that account for 17% of all national health spending, are two times as much as comparative countries. Americans also pay substantial health care administrative costs that equaled $259 billion in 2017, or nearly four times average of other developed countries. (We spend more on health care administration the UK spends on all of health care.) Relative to outcomes, US life expectancy at birth, that has declined for the past three years (for the first time in a century), is exceeded by 79 countries. Per a recent Bloomberg health efficiency study, the US ranked 54th out of 56 countries. Hong Kong, Singapore and Spain ranked 1 through 3, the US fell between Azerbaijan and Bulgaria.
Interview with America's Health Insurance Plans' (AHIP) CEO Matt Eyles (March 19th)
Interview with America's Health Insurance…
Interview with America's Health Insurance Plans' (AHIP) CEO Matt Eyles (March 19th)
Listen Now Despite gains made under the ACA, health insurance coverage in the US remains fraught with problems. Over 28 million non-elderly remain uninsured. Health care spending is extreme. Health care coverage is the most expensive worldwide in absolute terms and relative to average incomes – despite the fact Americans consume no more or fewer health care resources than our comparative peers. In 2018, an insurance premium for a family of four was $19,616 or almost one-third of median household income of $61,372. Several factors explain this. Among others, while Medicare spending per capita decreased by 1.2% between 2007 and 2014 however for private insurance spendingincreased per capita by 16.9%. Rapidly rising drug prices, that account for 17% of all national health spending, are two times as much as comparative countries. Americans also pay substantial health care administrative costs that equaled $259 billion in 2017, or nearly four times average of other developed countries. (We spend more on health care administration the UK spends on all of health care.) Relative to outcomes, US life expectancy at birth, that has declined for the past three years (for the first time in a century), is exceeded by 79 countries. Per a recent Bloomberg health efficiency study, the US ranked 54th out of 56 countries. Hong Kong, Singapore and Spain ranked 1 through 3, the US fell between Azerbaijan and Bulgaria.