September 15, 2009

What grows five times faster than your paycheck?

The increased cost of your health insurance over the past decade if you live in Washington state.

Family health insurance premiums have more than doubled in Washington state over the past 10 years, rising five times faster than salaries, according to a study released Tuesday.

The average, annual job-based health insurance premium in Washington state grew from $6,500 to nearly $13,860 between 2000 and 2009, an increase of $7,360, or 113 percent, reported Washington, D.C.-based Families USA, a consumer health organization....

Over the same time period, the median earnings of Washington workers increased 21.6 percent, from $26,760 to $32,530, the report said.

According to Families USA, the main reasons for the huge jump in the price of health insurance are "wasteful health care spending, a mostly unregulated insurance market, [and] less competition among insurance companies." In addition, the report found that people who are lucky enough to have health insurance are increasingly picking up the tab for people who are insured.

Lest you think that Washington state is a statistical outlier, previous reports from Families USA have found a similar jump in health insurance costs in Oregon, California, and Idaho.

Via McClatchy.

Posted by Magpie at September 15, 2009 03:54 PM | Health/Medicine/Health Care | Technorati links |

Comments

Hmmm, I wonder if someday a Corporation might run for public office?

Well, it follows that if the right-wing corporation-friendly U.S. Supreme Court rules that a corporation is a person, then it seems likely that one day a corporation, instead of doling out millions to buy politicians, will run as a "person" for political office.

In fact, the President of the United States of America might someday be Microsoft, or GE, or AIG, or some other corporation "person," with their "birth certificate" being the date of their incorporation in the United States...

Posted by: The Oracle at September 17, 2009 03:34 AM

A lack of regulation is the key. If the amout charged for premiums were regulated, we wouldn't be in this mess. The same goes for the housing market.

Posted by: Nikki Thomas at September 18, 2009 08:15 AM

Will a corporation someday run for public office? Stephen Colbert says "Corporations do everything people do except breathe, die and go to jail for dumping 1.3 million pounds of PCBs in the Hudson River." See the Colbert video "Let Freedom Ka-Ching":

http://www.colbertnation.com/the-colbert-report-videos/249055/september-15-2009/the-word---let-freedom-ka-ching

Posted by: Flo at September 19, 2009 12:18 PM

It would be nice to see this housing market turn around soon...

Posted by: MP at September 20, 2009 06:45 PM