It is only recently that health insurance has paid for “cradle to grave” coverage. In 1960 consumers paid for nearly 60% of their healthcare directly; the government paid for about 20%. By 1980 consumers were paying for only 28%; the government was up to 40%; and private health insurance was up to 32%. In 2000, the consumer is only paying 15%; the government 45%; and private health insurance 40%.
In the first 20 years, the government saw an increase in its coverage by 100% and the private sector insurance grew by 70%, while the consumer expenditures DROPPED by 54%.
The government increase is explained by the advent of Medicare and Medicaid; however, still alarming.
The consumer has been winning at the cost of HIGHER Health Care costs with CRADLE TO GRAVE INSURANCE BEING OFFERED.
F. Darrell Lindsey
U.S. State Licensed Insurance Broker