Friday, August 26, 2016

Middle-Class Family Healthcare Spending Increased 25 Percent Since 2007

From The Wall Street Journal, "Burden of Health-Care Costs Moves to the Middle Class: Rising out-of-pocket health care costs ‘means less money for other things’ " by Anna Louie Sussman:
Middle-Class Family Healthcare Spending
Source: The Wall Street Journal
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Rising out-of-pocket health-care costs, combined with slow economic growth and years of tepid wage growth, pose risks for an economy in which consumer spending accounts for more than two-thirds of overall output, economists say. In 2015, 8% of Americans’ household spending went toward health care, up from 5.8% in 2007, according to the Labor Department.

Health care costs are “eating up a larger share, and it means less money for other things,” said Diane Swonk of consultancy DS Economics.

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