The current health care system is akin to the Madoff Scam or the reason behind our recession. Every transaction and cost is hidden from you in order to maximize the profits of the oligopoly.
The health care system is entirely run on a purposeful lack of transparency in order to maximize profits. Most people don’t care because they’re not spending their own money directly on health care.
And health insurance companies will continue to spend over double what they should because their revenues are still coming in. Once people stop being able to afford health insurance and insurance company revenues drastically decline, they’re going to run to the government for a bailout. And since our government is all about life support for dinosaurs, it’ll sadly happen. It’s coming soon:
The average family makes $60,000 today and health insurance costs on average $15,300. Insurance has gone up nearly 100% in the past 8 years. In 10 years, the average family will make $80,000 and health insurance will cost $33,000 (assuming health insurance rises at the same rate). This is 41% of your pre-tax income!
If there’s ever an industry that needs disruption, it’s health care.
Consumers demand transparency and authenticity in financial services: implications for health