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Yes, Healthcare Costs Are Rising. But So What?
Posted By Matthew Vadum On October 23, 2009 @ 5:22 pm In NewsReal Blog | No Comments
Since RomneyCare was enacted in 2006, the state’s overall healthcare costs have skyrocketed 42 percent, Beck said. Because the system is devouring the state budget, lawmakers in the Bay State are looking for new sources of revenue to feed the healthcare beast.
Massachusetts politicians want to raise financial penalties for people who refuse to buy health insurance, Beck said. They also want to raise business penalties and taxes on insurers and hospitals. Insurance premiums have gone up.
“They’ve even, in Massachusetts – this isn’t, you know, Botswana – Massachusetts. They have resorted to group doctor visits,” Beck said.
It’s like, OK. He has a gallstone and I’ve got a sore throat. Can you do this at the same time? It’s still not enough. So what are they considering? Excluding coverage of low priority, low-value services. Also, limit the coverage, implementing spending caps. Wait a minute here. This sounds like everything that they are denying would happen in the universal plan. So less service, less innovation. And guess who decides what the value is? No, no, not the doctors. Not you. Those in the state House. I can’t wait.
The brand new anchor of Fox Business, John Stossel, appeared on the show and shared his thoughts. Stossel said the system of employer-sponsored health insurance helps drive up healthcare costs. The problem is “that other people are paying for it,” he said. Because workers don’t pay for health insurance directly the normal market signals such as price aren’t available to workers. Because employees don’t feel the financial consequences of their healthcare decisions, this leads to employees over-utilizing services and drives up prices for healthcare services.
Stossel also pointed out that statists are constantly whining are the cost of healthcare, about how it is ever spiraling upward out of control.
I mean, it’s true the costs are going up sharply. But if you look at the slope of the line, costs are going up just as sharply for spending on recreation in America. Nobody calls that a problem. More people are going to football games or buying their kids soccer cleats. But that’s because they’re spending their own money.
(It was Stossel’s first appearance on Beck’s program since he recently left ABC News for Fox.)
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