Health Care Costs Going Down

From the New York Times:

A range of leading health-care providers joined President Barack Obama on Monday in announcing their promise to sharply reduce the growth of national health spending, a move that could ease the path toward his goal of comprehensive coverage for Americans.

The pledge, if kept, would not reduce overall health spending but merely slow its growth. Still, White House officials said the plan could save $2,500 a year for a family of four in the fifth year, and a total of $2 trillion for the country over 10 years.

This is good news but shouldn’t this savings already be happening? It seems these groups are implementing these savings so the government doesn’t regulate them. Whatever their motive, health-care needs an overhaul. We pay more than other developed countries and recieve lesser care.


49 Responses to “Health Care Costs Going Down”

  1. 1 Tracy Thomas May 12, 2009 at 11:56 AM

    I know othere developed countries may have better health care programs but it’s hard to say how much better they really are. Although some countries like canada have health care for all their citizens i question the level of quality. I wonder if they getting a washed down version of health care because everyone is provided with it. I heard that in order to recieve treatment you must wait in massive lines and the health care they provide is of poor standards to keep up with the amount of people they must take care of.

  2. 2 Andrew May 12, 2009 at 12:47 PM

    With the recent surge of people heading to retirement which will require more health care, I think we should try to reformat our health care spending. Costs may be “Going down” for now, but does this mean we will suffer in the long run? “The pledge, if kept, would not reduce overall health spending but merely slow its growth.” Does this mean that health care costs will continuously pile upon itself as time passes?

  3. 3 mrrodenas May 12, 2009 at 5:18 PM

    I have experienced both the Canadian and at least three European health care systems in my lifetime over a period of at least one year and their systems are not watered-down and quality is not compromised. It is going to convince the public that this is attainable because in the US people have never had anything like this. Moreover, it is going to be hard to turn around the current structure of high profit firms involved in every aspect. Obama’s administration is doing a good thing in my opinion, and the only way out of escalating costs and Medicaid bankrupcy. I agree that the system needs an overhaul, start from zero.

  4. 4 Hyo Kim May 12, 2009 at 8:31 PM

    This might be a good news to those people who are minimum waged,
    It could help those people to not fall on the bankrupcy which will help this economy gets better.

  5. 5 Heidi11 May 13, 2009 at 9:38 AM

    It is good that there is an effort to reduce health care costs. My brother had to go to the emergency room last Saturday because he had an ingrown toenail that was extremely infected (which is gross, not to mention embarrassing to go to the hospital for a toe). Anyway, the bill for the visit was $2000–all to take care of an ingrown toenail. Granted, his co-pay was much much less, but the system is breaking down somewhere when such a simple and trivial procedure costs so much. While we have a long road ahead of us in regards to providing quality and affordable health care for everyone, hopefully this is at least a step in the right direction.

  6. 6 B's May 13, 2009 at 12:18 PM

    This can be good for the lower income families. Health care has become so expensive that it is tough for some families to afford it. So if families are able to save money on health care maybe they will take that extra money and buy other things which would in return help out the economy. Health care needs to become more affordable for families so this could be a sign of good things to come.

  7. 7 Leonardo Sanchez Econ 101 May 13, 2009 at 1:04 PM

    Health Care

    Great news in the health care life for our future. Personlly like it has been said Canada and other countries have already universal healthcare for all. But the standards are low and wait time is huge.

    For this reason we should regulate the health-Care to the ones who really need it like the one over 50 years of age and children 0-17 years of age. And of course the people in between those ages get full coverage if they hve AIDS or Diabeites.

    But for the healthy which in my opinion means you can walk and breath on your own like myself let me pay full price for my care becasue i can work but please take care of me when im of old age.. Thats all im saying give great health care to the few that actually need it.

  8. 8 Courtney G. May 13, 2009 at 1:55 PM

    I think that a health system for all is a great idea but it is a very hard idea to accomplish, especially in this recession. Health care is so expensive these days and many people don’t have it. I don’t think it should be given to everyone, just people who can’t afford it. *especially children*

    This has been something discussed a lot lately and can potentially be very good if put together properly. Just giving out free health care is not the answer.

    someday, there will be an answer for health care. Right now, cheaper is better though because people are short on money now and some people don’t even have jobs.

  9. 9 Lucy Hwang May 13, 2009 at 2:31 PM

    Health care cost still need to fall way way more. I think everyone has to right, and it is justice to a health care cover everyone. Of course it takes long time to achive this goal. However, little by little, a health care system gotta be reformed. Start with children, start with cold…. I was shocked that my host mother doesn’t have a health care. She can’t go to see her doctor that often because she can’t afford it.

    I’m from South Korea. I think most system the Korean have now are borrowed from the U.S. And I agree there are tons of good systems. However, a health care, I think that is the worst system ever the U.S. have.. (Thankfully, our health system is more like European system….)

  10. 10 Nirbhik Trehan May 13, 2009 at 10:25 PM

    this is a good change for the poor families who could not afford health care before,but now can.this change is specially welcomed in times like this as there is too much stress in the environment due to recession. so now families have to spend less on health care and the money they save can help them to save or buy more essential material.

  11. 11 Jim Castilone May 14, 2009 at 2:10 PM

    I think this is a good step towards less expensive health care though I would also like to see a more immediate cut. While I do think that Canada and other countries have universal health care as a good fit for them, I question whether it would benefit us. I don’t know the answers, I just know that something has to be done in our country. Too many people go without health care.

  12. 12 Casey Kingdon May 14, 2009 at 3:49 PM

    People don’t realize and appreciate what America actually has for a health care system. Although we pay much more than other health care systems (many are even free), we don’t arrive at the emergency room with an emergency and have to wait in a line. If we can lower the cost for our health care system, it would be ideal, but not at the expense of a watered down health care system, where the “care” is not emphasized.

  13. 13 Kevin Clark St marys Macro mwf May 14, 2009 at 7:13 PM

    Yes, i agree that these savings should have already been made apparent long ago for our country. However, it is time to come to terms with reality, which is they just now made a change and it is definitely a step in the right direction, however, until we get to universal health care like our neighboring country Canada. Universal health care is the proper system for our troubling nation that has been sent into a swarming frenzy about this new swine flu. The last time anyone was this alert about medical symptoms people were dropping on the street with pockets full of posies!!! OOOO Canada we love you!

  14. 14 tmt2 May 14, 2009 at 10:42 PM

    Health care should not be denied to anybody because they cannot afford. If people are sick then they should be treated without having to worry about if they can afford and appointment or prescriptions. I guess its good for the economy but people will probably get less attention and care.

  15. 15 Tim Honeycutt May 15, 2009 at 10:15 AM

    I would realy like to see a nationwide healthcare system. Even if it is watered down, it is better than nothing. I think everyone should be able to have some kind of health care. And why didn’t this happen before. There are too much polotics involved int his mess. If the government, or each state, impements health care for everyone and the costs go down in the future, i’m all for it. According to a CNN poll, 72% of americans favor Obama’s plan. Time in line may increase, but it’s not too much to ask if the poor can get help. There is no reason that America, a plentiful country, should let lives be lost when there are simple cures for many problems. Cut ear marks and make this country a better place.

  16. 16 tlr7 May 15, 2009 at 12:27 PM

    I think that bringing down healthcare is good, although as the article states that this is what we should originally be paying,yeah thats a bummer, but as long as its not as high as it was before, because like many others have said for those lower income families who are the verge of declaring bankruptcy this is what might save them from having to do that.

  17. 17 Jerry Ellison May 15, 2009 at 4:35 PM

    Regardless of how it is in other countries, i think the health care system in this country is bull shit. I’ve heard too many stories about people who cannot afford it and suffer continually because of it. Last year my dad was taken to the hospital for carbon monoxide poisoning and almost died. He had to be taken to have his blood cleaned in the hyperbaric chamber. We were under the impression that our insurance would cover it, but it found some reason why i didn’t have to. Days after his accident, my dad was back out working so he could pay off is operation. My parents even took me off the car insurance cause we couldn’t afford it anymore. There’s something wrong when people have freak accidents like this and it ends up setting them back like that.

  18. 18 Noe Pate May 16, 2009 at 2:01 PM

    I think the main concerns for socialized medicine are in the myths of long lines and watered down care, but I dont think that is the aim of America’s steps toward nation wide healthcare. A large concern is that technology will be stifled and there will be less incentive for professionals to enter the field. I think there will be many benefits of national healthcare especially if we can tailor a system to our unique economics system and the average americans needs.I think it will happen if the government can find away to keep the competetitive elements of development and findunique strategies on the government transfer side. P.S. to mr. honeycutt the solution lies in “polotics” and sorry to say good things don’t have “simple solutions” they require making hard decisions and cooperation and that cooperation is called politics, maybe you were referring to lobbyist without a conscience?

  19. 19 annmarie minite May 16, 2009 at 4:04 PM

    I think national healthcare is a good idea in theory, but how it actually plays out is another thing. I agree that with national health care given to every citizen, there will have to be a drop in effiency and level of care because who is paying for all this? right now, the wealthy take the hit for those who can’t afford it. How will this nation wide health care plan be funded?

  20. 20 SMCecon May 16, 2009 at 4:41 PM

    I would be nervous to ask who the losers of this decresed health spending will be? Will they slow reserach funding for diseases? I would be most nervous to find out that this reduce only affects those with poor health care coverage.
    I think this article failed to articulate the pro’s and con’s of this program

  21. 21 Robert LaVoy May 16, 2009 at 5:00 PM

    Saving 2 trillion sounds like a great way to start getting rid of the U.S. 11 trillion dollar debt. This plan may only slow health spending and not stop its growth. Obama sounds like he is trying to create a national healthcare which would drastically decrease the quality of health services. Everyone thinks he’s so great, but all he has been doing recently is spend more money. The market WILL correct itself eventually even if the major failing corporations weren’t bailed out.

  22. 22 Michelle V May 16, 2009 at 7:03 PM

    I feel that there is so much fraud in health care. The government can’t even control the small portion of health care costs that they have been given. How can we expect them to efficiently be able to handle a universal health care. I think that if the government wants to make moves towards this this type of health care they need to first re-evaluate what they are in control of now.

  23. 23 Molly Jordan May 16, 2009 at 8:36 PM

    I would agree that national healthcare sounds great in theory, but how will all of this be funded? I would also agree that the government will need to re-evaluate all of the pros and cons surrounding this. Would people really get less attention or care? The US might want to take a better look at how other countries implement universal healthcare and see what they can do to improve on what we have.

  24. 24 nancy moussa May 17, 2009 at 9:03 AM

    Lowering the price of health care would help out everyone in the longrun. Yes, it does come in handy so I defenitly don’t think we should get rid of it. I also think that our healthcare has a lot of room for improvment, and this is a good first step to change.

  25. 25 Cole Scharton May 17, 2009 at 9:32 AM

    I am curious what exactly is being done to lower these costs (what is included in this effort to lower growth). I for one am not sure I agree with the statement that “We pay more than other developed countries and recieve lesser care.” Clearly we pay more, but I feel like we have a great health care, it is expensive though. I agree that if growth of costs could be slowed without impacting outcome of research or treatment, than why not. If this cut will effect the outcome of our countries ability to treat the ill, than I would rather spend more.

  26. 26 jenna s May 17, 2009 at 12:17 PM

    This sounds a good step in the right direction. I do agree that the health care providers are partially doing this because they fear that their industry will be hit with major regulations. The idea of national health care is a nice idea. However, I do question how this will effect tax payers and the already large government debt. If we do have national health care, taxes may rise to astronomical amounts. In Canada, sales tax is almost 15%! If the government absorbs most the costs, its debt will increase, which will place a great burdened on future generations. I think that our health care system needs to be reworked. There has to be a more efficient and cost-effective way to provide health care to our citizens!

  27. 27 Dennis K May 17, 2009 at 1:01 PM

    Its not huge, but hey its progress just like the other factors of the economy that are changing. Of course , this is just recovery from what used to be really bad, but things never really change instantly, so we’ll have to see what eventually happens

  28. 28 Walter Munill May 17, 2009 at 1:28 PM

    The fact that our country is in such a deficit and health care prices are decreasing just doesn’t seem logical. It is true that universal health care is a great plan in theory, but where is all the money for these decreasing prices coming from. Our country has already made cuts in other facets of life that we once lived with such as education, why would we upgrade an industry that was fully functioning when we can restore other aspects of the nation to what they once were.

  29. 29 Tom Jones May 17, 2009 at 6:28 PM

    A range of leading health-care providers joined President Barack
    If this promise by Obama helps to reduce the growth of national health spending and can save familsy around american money, than this should be pushed. The extra money could be used to boost the conomy by buying other item other than paying for health care. I think that presidents before Obama should have stressed this bill for lower health care payaments because we pay more than any other developed country and recieve far less health care.

  30. 30 Simon Kudus May 17, 2009 at 7:29 PM

    This is all good but when are we going to finally get with the program and join other developed nations. Universal Health-care would only help everyone. First, the insurance companies would get more money because there are more customers in need. But this will only work as long as everyone get choose their plan/provider.

  31. 31 wallacej May 17, 2009 at 7:43 PM

    Health care is just too expensive for people to afford. Although heath care cost is going down it still wont have a huge effect on people. Our economy is not at its finest. We pay a lot for health care and do not receive as much as we should compare to other developing countries.

  32. 32 Michael DeBoer St. Mary's May 17, 2009 at 10:41 PM

    I believe this to be a good idea as well. If the cost of health care is cut back more families will be able to save their money and still receive the proper health treatment they deserve. The down side to this proposal is that taxes will go up. Nothing in this world is free. If the government says your are saving money in one place, they will find a way to get it back in another.

  33. 33 Ally S. May 18, 2009 at 12:14 AM

    Its so exciting that such strides are being made in the health care department. Health-care providers and President Barack Obama made the decision to reduce the growth of national health spending; a move that allows more Americans health-coverage. While the New York Times article states “that although this is good news, shouldn’t this saving already be happening?” I think that these strides, even if they are small, are good especially if this plan could end up saving families all across the United States around $2,500 a year and at least $2 trillion for the country over 10 years!

  34. 34 Brandon Ruegsegger Macro ECON (M,W,F) May 18, 2009 at 12:25 AM

    This is in fact good news, but we should think why health-care providers are doing this. I believe this may be attributed to people reducing or all out canceling their current health care plans due to economic hardships. As they lose customers, they could be reducing prices to serve as incentives to people to not lower or drop their health care coverage. I could be wrong, but its something to think about…

  35. 35 Andrea Nemeth May 18, 2009 at 2:38 PM

    Its great news for people who are struggling with their money. now they might not have to decide as much wether they are going to eat for the next week or go to the doctor. i dont think it really affects anyone else very much but it is nice to see.

  36. 36 Leticia Martinez May 18, 2009 at 5:56 PM

    It is important to lower the costs of health care so that everyday people can afford to go to the doctor instead of just having bug money execs racking in the cash. What Obama is trying to do seems like a good idea. However, seeing as how there are no rules being set in place to ensure that these cutbacks are happening, it leaves me skeptical on whether or not the goals will be met. Since it isn’t certain how much money will be saved, the government can’t use that money for our benefit at all. In my opinion, the health care system needs an immediate overhaul from start to finish to ensure that there isn’t over spending and people aren’t getting free rides.

  37. 37 Santi Orona May 18, 2009 at 9:54 PM

    These numbers are encouraging for all Americans. Health care is already unattainable for many, and needs to be regulated. It is unfortunate that a country of our standing cannot provide its citizens health care. Let’s hope this is a short term solution. I still believe universal health care should be implemented.

  38. 38 Stephen Cassinelli May 19, 2009 at 1:42 AM

    Of course health care is needed with our society in such a struggle, and with all the people that are not ensured, this promotion during Obama’s running gave many people hope. A prediction of 2 trillion dollars over 10 years was set forth, but why doesn’t it seem like anything is being done to move forward with this issue? I hope soon that we will see some progress with the national health care case because there are many people out there that need and will benefit from this.

  39. 39 Rachel Sturm May 19, 2009 at 5:03 PM

    The real question is what does it actually cost to produce these health products? We KNOW that medical companies are making major profits at the expence of the American citizens. While I understand that people in the health care business earn every cent they work hard for, there must be a CEO somewhere relaxing poolside at a house payed for by low income families. Maybe govn regulations is exactly what we need….

  40. 40 Pat Kolcum May 19, 2009 at 7:11 PM

    Health care is much too expensive for many to afford and although this plan is not a complete solution to the problem it is definitely a step in the right direction. Health care is way too important of a thing to be unattainable for some. This and many other plans need to be set into action in order to fix it.

  41. 41 Javier Ochoa May 20, 2009 at 1:58 PM

    I think that this is really going to help the lower income families, because its more affordable. Even though that might mean that the services might also go down, and the level of professional and assistance might also go down. People do not really appreciate the things we have here in the US. I have experienced the Medical system in Mexico, and it does not meet up to the things here in the US.

  42. 42 jordan May 20, 2009 at 3:28 PM

    I think health care costs should have been reduced a long time ago, however, now is as good a time as any. Ten years seems like a long time, but hopefully we will start seeing results sooner than we expect. I do agree that there is a danger since these proposals are not guaranteed, but if all goes as planned this is a big step in the right direction.

  43. 43 Alyssa McKinney May 20, 2009 at 7:54 PM

    Yell at me all you’d like, but it’s things like this that make me believe in a socialized health care system. To be subjected to the whims of greedy insurance and health care corporations who now want to save consumers money? Please. It should have been done when people could actually save that money.

  44. 44 Carl Hernandez May 22, 2009 at 12:43 PM

    This is good news for people that are struggling financially but for everybody else i dont think it would change much in their plan, if anything it might hurt them because by lowering the health care cost its only going to make taxes go up. but i believe this is a good step in the right direction.

  45. 45 wordtown May 25, 2009 at 1:18 PM

    Health care is a big thing all over the world. No one wants to check into a hospital and then get sent home with a big bill to pay off. You can’t work if your injured of very ill and they have the nerve to send a bill of however many dollars for you to pay off for your check up. I hope things start changing around for us and start heading towards a positive direction.

  46. 46 Andrew Curry May 25, 2009 at 7:08 PM

    i really enjoy reading the statistics that people use to make these ideas sound like such a great idea. “2 trillion, over a 10 year period”. dont get my wrong, any cut in medical bills is a good cut in medical bills. everyone could for sure use the extra money now

  47. 47 Claudio Ramirez May 26, 2009 at 12:29 AM

    I believe that affordability and availability are the 2 most important keys when it comes to health care. The timeable for the reform is also very vital but what will happen to the cuts and savings that are going to be removed from the health care plan…where is all that money gonna go to? guess well find out..

  48. 48 quique May 26, 2009 at 10:16 PM

    this is very good to hear. the fact that healthcare is adjusting for people is great. especially with the economy being bad, healthcare is always going to be needed so the fact that it is cheaper is great.

  49. 49 TTS06 December 17, 2009 at 1:25 PM

    The reason why healthcare is going down is that people don’t want to pay their hospital bills and the market is so overpriced they can reduce it and still be very profitable.

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