Facts on the Cost of Health Insurance and Health Care Part 1

August 26th, 2009 by admin

By several measures, health care spending continues to rise at a rapid rate and forcing businesses and families to cut back on operations and household expenses respectively.

In 2008, total national health expenditures were expected to rise 6.9 percent — two times the rate of inflation.1 Total spending was $2.4 TRILLION in 2007, or $7900 per person1. Total health care spending represented 17 percent of the gross domestic product (GDP).

U.S. health care spending is expected to increase at similar levels for the next decade reaching $4.3 TRILLION in 2017, or 20 percent of GDP.1

In 2008, employer health insurance premiums increased by 5.0 percent – two times the rate of inflation. The annual premium for an employer health plan covering a family of four averaged nearly $12,700. The annual premium for single coverage averaged over $4,700.2

Experts agree that our health care system is riddled with inefficiencies, excessive administrative expenses, inflated prices, poor management, and inappropriate care, waste and fraud. These problems significantly increase the cost of medical care and health insurance for employers and workers and affect the security of families.

National Health Care Spending

  • In 2008, health care spending in the United States reached $2.4 trillion, and was projected to reach $3.1 trillion in 2012.1 Health care spending is projected to reach $4.3 trillion by 2016.1
  • Health care spending is 4.3 times the amount spent on national defense.3
  • In 2008, the United States will spend 17 percent of its gross domestic product (GDP) on health care. It is projected that the percentage will reach 20 percent by 2017.1
  • Although nearly 46 million Americans are uninsured, the United States spends more on health care than other industrialized nations, and those countries provide health insurance to all their citizens.3
  • Health care spending accounted for 10.9 percent of the GDP in Switzerland, 10.7 percent in Germany, 9.7 percent in Canada and 9.5 percent in France, according to the Organization for Economic Cooperation and Development.4

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Poor Management Traits Can Lead T Loss Of Profits

June 4th, 2009 by admin

Do you have any leaders with these traits?

1. Lack Clear Vision

2. Poor Judgement

3. Do not follow stanards they set for others

4. Resist new ideas

5. Do not learn from mistakes

These are some of the traits seen by the big companies filing bankruptcy or are in poor financial shape.

 

 

The Worst Leaders

 
Source: Harvard Business Review, June 2009
The Worst Leaders
 
Source: Harvard Business Review, June 2009

 

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Poor Work Atmosphere Cost Businesses

April 5th, 2009 by admin

In a recent study the results are as following:

Work effort was decreased by 48% (less work, less money)

More time off work was taken by employees by 47% using sick leave or vacation time

Quality of work decreased by 38%

Performance at work declined by by 66% (slower and poor performance causes a loss of income)

If a specific bad incident occurs with another employee or supervisor the worry and stress by the incident led to 80% time off work by the employee who felt stress

If an employee or supervisor was only at the location at certain days or times the employee who felt stressed out will cost the employer by avoiding the agressor by 63%, therefore not fully functioning at work.

The biggest cost to an employer working in a poor or stressful atmosphere is 78% of the stressed employees will not longer be committed to the employer or business.

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