There’s a growing concern about the costs of health care these days, and with good reason. In the 1960’s, the cost was $27 billion, or 5.13 percent of our gross domestic product (total goods and services produced within a country). That amounts to $147 per person in the
. In 2010, health care costs were $2.6 trillion, or 17.86 percent of GDP. That amounts to $8,402 per person living in the United States . It’s a hefty expense that hasn’t gone unnoticed by health insurance organizations. United States
Health care costs, as well as premiums for health insurers, are persistently on the rise. While there isn’t a single factor influencing these growing costs, several causes that could play a role in it include increasing life spans, rising obesity and chronic conditions, and increasing use of expensive, high-tech equipment and procedures.
Skyrocketing health care costs are also forcing major corporations to contemplate substantial changes to the way services are offered to their employees. The Postal Service is no exception. The possibility of saving up to $7 billion per year by sponsoring its own health care program is tempting enough for the organization to consider withdrawing from the Federal Employees Health Benefits Program. The proposed program is part of the Postal Service’s Plan to Profitability and is one of many options under consideration for improving its financial condition.
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