Insurance rates will rise 94 percent by 2020 if cost-saving reforms to the US health care system aren’t enacted, a new study from the Commonwealth Institute finds.
The 90-year-old non-profit health care charity released an analysis of health care costs and forecasts that says employer-sponsored family plans will rise from an average cost of $12,298 in 2008 to $23,842 in 2020.
By contrast, the same coverage would have cost around $9,200 in 2003. ...
... “These findings are merely the shocking state of premiums, not even including a concurrent jump in out-of-pocket costs for deductibles, co-pays, and other fees,” said Deborah Burger, co-president of the nurses’ group. “It’s no wonder that medical bills now are the leading factor in 62 percent of bankruptcies, and half of American families are rationing medical care because they can’t afford it.” ...
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