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Investing and Economics Blog

Held Hostage By Health Care

Held Hostage By Health Care:

Workers, he says, are increasingly shackled to their jobs for no reason other than to cling to their employers’ health insurance coverage. These are people, he says, “who don’t leave a job even though they’re unhappy and would be more productive somewhere else.”

This is one of the many problems with the existing health care system in the USA. That system now costs 16% of USA GDP – the highest cost anywhere.

After a decade of working in a job she wanted to leave, Holmes Johnson found the courage to move on. “Starting my own thing was too overwhelming, and my husband’s plan did not offer the coverage to make us feel secure,” she says. A few months ago, she landed a public-relations position with a comparable salary at Washington law firm Sterne Kessler Goldstein Fox. After checking the firm’s formula for prescription-drug coverage, she made the jump. In what other country, she wonders, would that be the deciding factor?

The USA economy has strengths and weaknesses. The strengths have allowed the health care system to function poorly and still be tolerated. It has reached a point where it cannot be tolerated in its current form.

Related: Starbucks: Respect for Workers and Health Care – Health Care Crisis

April 7th, 2007 John Hunter | 2 Comments | Tags: Economics, Personal finance

Comments

2 Comments so far

  1. Curious Cat Management Blog ยป Systemic Health Care Failure: Small Business Coverage on December 27, 2009 1:53 pm

    “This is but one, of many problems, with our current system. It can be partially ddressed, while retaining the system that so many special interests have retained and continued over the decades. But, I am not sure why we should take our direction from those that that council the same old, proven failure of a system, over change…

  2. Curious Cat Management Improvement Blog » More Reasons to Avoid Layoffs on February 11, 2010 11:03 am

    [...] Here the consequences are, not surprisingly, devastating. Layoffs literally kill people. In the United States, when you lose your job, you lose your health insurance, unless you can afford to temporarily maintain it under the pricey COBRA provisions. Studies [...]

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