More information is starting to seep in showing the effects of how the growing Medicaid crowd is affecting hospitals. Continue reading →
New government regulations via Obamacare are making independent physicians adjust their patient volume by not taking Medicare patients according to a new study. Continue reading →
Via The Washington Examiner –
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Dr. Ed Yardeni has put together a post showing the consumer has saved dollars YTD on gasoline prices, the savings is being eaten up by higher medical expenses.
Last week, I observed that while consumers are spending less of their budgets on gasoline, they are spending more on health care. The latest data through January show that the percentage of current-dollar consumption for gasoline plunged from last year’s high of 3.2% to 2.1% in January. Consumers saved $133 billion (saar) on gasoline over this period.
On the other hand, the percentage of their outlays for health care goods and services rose from last year’s low of 20.0% during March to 20.6% during January. I received lots of inquiries about this topic. Most readers want to know if this is attributable to Obamacare, which seems to have raised health insurance premiums, deductibles, and copays. I think so, but I don’t have the data to corroborate this conjecture.
Health care consumption includes spending paid for by both insurance and government programs, as well as out-of-pocket costs. Presumably and anecdotally, the latter have risen sharply. However, that wouldn’t necessarily bloat overall spending, though more out-of-pocket outlays would depress spending on other goods and services.
PRINCETON, N.J. — The first members of the huge baby-boom generation in the U.S. have reached retirement age in recent years, and these older boomers are retiring in large numbers, just as Americans in their mid- to late 60s did a few years earlier. While about eight in 10 boomers in their early 50s are in the workforce, the percentage employed drops to about 50% for boomers who are 60, and the proportion accelerates downward with each year of age thereafter. Only about a third of those aged 67 and 68 — the oldest boomers — are still working in some capacity.
The Tax Foundation put together a chart showing how federal tax dollars were spent.