More and More of Your Income is Health Insurance
In 1980, in-kind benefits and employer and government spending on health insurance accounted for just 6% of the after-tax incomes of households in the middle one-fifth of the distribution. By 2010 these in-kind income sources represented 17% of middle class households’ after-tax income (see Chart 4). The income items missed by the Census Bureau are increasing faster than the income items included in its money income measure.
Source: Brookings.
Thanks to ObamaCare, health insurance will be a large part of our income. People are already drowning in higher premium and deductibles.
Not to mention more people on Medicaid due to Medicaid expansion. The poorer that people are, and qualify for government transfers for health care, the proportion of insurance to income will continue to rise.
This is only the beginning. Just wait to see how the ACA is in a few years. It hasn’t settled in yet.
Eventually we will all be working solely for health insurance.
Good to hear how government health care will crowd out the ability for us to purchase any other goods.
Who needs leisure when you have healthcare?
This is the natural outcome if health care costs and unemployment increases as income decreases.
We probably will get paid from the government in a foreseeable future.
So this is a supplement of last post.
yes?