If You Don’t See It, You Don’t Feel It
For those who remember when health insurance used to be only “hospital insurance” or “catastrophic”, this chart shouldn’t be a surprise.
Veronique de Rugy puts it in context:
Much of the rationale behind the current reform of the healthcare system is about controlling inflation in healthcare costs. However, based on the trend presented above, a better alternative to the semi-nationalization that the president has in mind would be to increase individual responsibility for medical decisions and costs. When people aren’t exposed to the true cost of their care—even if they pay for it in foregone wages and higher taxes—they consume more.