Health Costs Rise 10 Times Faster Than Income

Most Americans are aware that health care spending is increasing rapidly. A new study commissioned by the Robert Wood Johnson Foundation shows us exactly what kind of burden American families must bear. According to the HealthDay News, the cost of family health coverage increased by 30% from 2001 to 2005, but incomes during that same time frame only increased by 3%. Furthermore, in 2007, total health spending rose by 6.9%, which is twice the rate of inflation.

While these study results may sound depressing, some experts point out that health care costs have been rising for a very long time - but we are just noticing it now because premiums today typically include prescription drug coverage, which was not always a benefit in years past.