1. Medical Bills
▪ $7 for oneTylenol tablet (20 years ago)
▪ $18,000 for back brace (15 years ago)
▪ $8,000 to repair broken bone (10 years ago)
▪ $39,000 for titanium parts for knee replacement surgery
(Insurance company refused to pay full price, instead payed
$17,000.)
▪ $384,000 for back surgery (Did not include hospital stay or
follow-up care)
2. What Will You Do?
Currently my family must decide whether to find health coverage or
risk paying 100% out of pocket if something were to happen and a
penalty for not having coverage.
But it’s not just my family that has to make this decision.The law
requires everyone to have health insurance, so each of you are either
paying for insurance yourselves, having someone else pay for you, or
facing a future penalty for non-coverage.
The question is, if the law mandates coverage and hospital bills are so
high, why not buy health insurance?
4. Key Points from Income Statement
▪ $56,888 is the highest salary an average American male will make.
▪ $7,280 is one of the lowest healthcare plans in Michiana for a family
of three.
▪ Healthcare is the third highest expense in a basic budget, accounting
for 20% of total expenses.
▪ Remaining income is less than $20,000.
Note: Income statement did not account for mortgage, car payments,
or infrequent expenses.
5. “Hospital bills for IV therapy vary wildly: $787 for an adult,
$393 for a child at one hospital, and $546 for the saline,
plus $127 for administering it, at another.”
~The NewYorkTimes
The bag (filled with sterile saltwater and sometimes
medication) cost an average of $1 to produce.
Here’s the Shocker…
7. Solution
▪ Cap hospital charges
– Evaluate what reasonable charges should be for medical supplies,
operations, etc.
– Set Regulations on the medical industry’s charges
▪ Accountability
– Create a “Sarbanes-Oxley Act” for the medical field
▪ Set oversight boards
▪ Create checks and balances
▪ Require detailed reports
8. What You Can Do Is...
…spread the word!
Author unknown
Editor's Notes
This is the highest salary that the average American male will make in his life. Less than $60,000. which this number is a little bit lower for women. CNBC reported that men make the most at age 49, so I made this income statement with what a FAMILY pays for basic expenses. Some of theses expenses as u can see it doesn’t matter if your single or a family. The health insurance cost is for 3 people to have coverage a year. These expenditures are what my family pays, but I also backed these numbers up by averages. Realistically though, these are not going to be your only expenses and it does not account for infrequent purchases like a car or something of that nature.
The reason why this shocks me is that the bag filled with sterile saltwater two ingredients sometimes three if it has medication in it cost on average a $1 to produce.
When Accounting firm scandals arose, laws required them to be more accountable.
