Economy Crushing

Health Care Costs

There is no getting around the obvious here:

 At the core of the problem is the cost of healthcare and prescription drugs--the number one biggest threats to retirement solvency.

Soaring Healthcare Costs Jeopardize Retirement In America

Retirement means something quite different in America today: Increasingly, it is being redefined as “laboring in old age”. In fact, the Baby Boomers that are now reaching retirement age are still playing a key role in the American workforce--but not necessarily by choice. 

Seniors are mostly working longer because they need the money. Hikes in Social Security's retirement age, massive health-care costs, depleting savings and high levels of personal debt have made it harder than it was in the 1960s and 1970s to retire. 

According to a new report from money manager United Income, the participation rate in the labor force of retirement-age workers has topped the 20-percent mark for the first time in 57 years. 

“As of February, the ranks of people age 65 or older who are working or seeking paid work doubled from a low of 10 percent back in early 1985,” the report found. 

And there is no getting around the obvious here: At the core of the problem is the cost of healthcare and prescription drugs--the number one biggest threats to retirement solvency.

DYI:  Once again this article misses the 300 hundred pound gorilla in the room!  The Medical Industrial Complex has been in civil and criminal violation of the Robinson/Patman, Clayton and the granddaddy Sherman Anti-trust Acts.  Due to massive bribes or I should say campaign dollars no one in Congress has held any hearings, none of the current or past Presidents have unleashed their respective Attorney Generals not even individual States Governors along with their Congress or Attorney Generals all are silent.

Main Stream Press to the Rescue?

 

The pharmaceutical industry spends more money on advertising than the military industrial complex!  The main stream press is certainly NOT going bite the hand that feeds them!  In over 20 years of study I’ve only come across one article, [nothing on radio, or TV] where the State of Connecticut caught top CEO’s who were colluding to price fix generic drugs.  Connecticut’s Attorney General is looking for a dollar settlement with no statement of wrong doing.  No one goes to prison and immune from civil lawsuits.  To translate the not so Great State of Connecticut is simply out for a piece of the action every five to seven years as they catch these criminal repeaters.  As a side note; don’t believe for a second the reason drug prices are so high is due to R&D expense this industry as a whole spends more money on advertising than research! 

If these three Acts were enforced and legislation allowing re-importation of ethical drugs medical prices on average would drop by 75%+.   That is not a typo!  Or to be more precise prices would drop depending upon severity of illness from 60% to 90%!  Insurance would only be needed for catastrophic illnesses.  This cost for a family of four would drop to the level for one car full coverage insurance.  For a young single person in good health a catastrophic insurance policy would be less than liability insurance for one car!  And by the way the reason car insurance costs are leaping is the health care payment provision for your plan.  Auto insurance would drop at a minimum of 35%!

Is this Only a Retirement Issue?  Think Again!

With out of control medical costs, pumped up real estate valuations, student loan debt along with car and credit card debt the general economy is now starved for capital.  As I have reported before the U.S. has caught the European disease called austerity as our citizens in their attempt to maintain a middle class lifestyle has resorted to huge indebtedness.  A majority are on a paycheck to paycheck basis with one misstep bankruptcy is just around the corner losing everything including the house. 

 DYI