Economic Impact of Rising Health Care Costs

2007 data shows that the U.S. spends over $7600 per person on health care. This figure amounts to two times the rate of inflation. As health care costs climb, families and businesses alike find it more difficult to pay for increasing premiums. Some employees might reduce wages or limit pay raises to compensate. To address rising health costs and the impact on the economy, some approaches include improving the efficiency with which care is delivered. Developing a guideline that will balance the advances in the medical field and technology and our ability to continue to be able to pay for them will most certainly be a big challenge for health policy.