the cost of sickness

written by dr. Jay Parkinson of The Future Well :

GE created a beautiful interactive infographic for people to understand the cost of sickness. Health insurance premiums double every eight years and the cost of managing chronic illness is becoming increasingly out of financial reach for the majority of Americans. People are starting to realize that affordable products and services that empower us to manage our chronic disease will, by far, be the most affordable way to keep our bank accounts and bodies healthy. Especially when considering:

Let’s say you’re a 22-year-old single employee at my company today, starting out at a $30,000 annual salary. Let’s assume you’ll get married in six years, support two children for 20 years, retire at 65, and die at 80. Now let’s make a crazy assumption: insurance premiums, Medicare taxes and premiums, and out-of-pocket costs will grow no faster than your earnings—say, 3 percent a year. By the end of your working days, your annual salary will be up to $107,000. And over your lifetime, you and your employer together will have paid $1.77 million for your family’s health care. $1.77 million! And that’s only after assuming the taming of costs! In recent years, health-care costs have actually grown 2 to 3 percent faster than the economy. If that continues, your 22-year-old self is looking at an additional $2 million or so in expenses over your lifetime—roughly $4 million in total.

Those companies that help people manage their financial health will be the big winners in the future.

Related posts:

1. 8 negative facts about the health “care” reform yesterday i posted ten immediate benefits to the healthcare reform...
2. the top ten immediate benefits americans will receive when health care reform passes reblogged from dr. jay parkinson : Prohibit pre-existing condition exclusions...
3. healthcare quote All Americans should have access to affordable, dependable and quality...
4. finish medical school in 3 years instead of 4 ? Texas Tech University medical school is piloting a new program...

Related posts brought to you by Yet Another Related Posts Plugin.

Tags: infographics

This entry was posted on Friday, March 5th, 2010 at 6:00 am and is filed under infographics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.