No, this is not a Trump comment–although it easily could be. This post is about the economy and the problem we face. In this space we have previously addressed the cost of health care. It’s a fact that health care cost inflation typically triples the cost of the CPI–the Consumer Price Index. And this year we will see incredible growth in health care costs. Some estimates approach 10% and that was prior to the recent Medicaid-elimination legislation. But as our population ages there is an undercurrent of cost growth that accelerates the tripling impact. Older people cost more to maintain health and even life itself. But we are adding to that problem by living poor health habits before we reach what is considered old age. We eat too much, drink too much, use illicit drugs, engage in dangerous activities and, in general, disregard what those habits do to our one and only body. So when this generation “ages” it carries with it two strikes–namely, bad habit results and an aging body that may not be able to fight back when serious health threats develop and they will develop. Put this practically: Higher wages are the biggest expense but the second biggest expense to almost all American companies is the cost of their medical plans. And we–by our living habits–cause those costs to triple every year. It’s one of the main reasons why manufacturers take their jobs to other countries. It’s also why we cannot afford a national health plan. A simple truth: Americans need to stop seeing their medical plans as a safety net that allows them to live whatever life style they chose and start seeing their medical plans as a resource partner that helps them when their health suffers through no fault of their own. We’ve said it before: Buying homeowners insurance and then grilling hamburgers in your basement because you have insurance is how people seem to view their medical insurance. More jobs could be returned to America if people lived healthier lives. It’s really just that simple.
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