If this was a pill, it would be the blockbuster drug of the century
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This document discusses the problems with the current U.S. healthcare system and its negative impact on individuals and the economy. It notes that many people with insurance still face bankruptcy due to medical costs, and that rising healthcare spending crowds out funding for other important social services. This has led to the rise of the "functionally uninsured" - those who have insurance but cannot afford deductibles and out-of-pocket costs. The document proposes that redirecting healthcare savings to local economies through programs like Health Rosetta could help address these issues by circulating more money through communities.
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If this was a pill, it would be the blockbuster drug of the century
- 1. HEALTHCARE IS STEALING THE AMERICAN DREAM HERE’S HOW WE TAKE IT BACK
- 3. 70% of those filing bankruptcy due to medical bills had insurance
- 5. America’s largest public health crisis in 100 years created by dysfunctional healthcare system
- 6. CATASTROPHIC MISALLOCATION OF RESOURCES HEALTHCARE SPENDING -50% LOCAL AID -31% PUBLIC HEALTH -22% MENTAL HEALTH -14% INFRASTRUCTURE, HOUSING & ECON. DEV. -13% LAW & PUBLIC SAFETY -12% EDUCATION -11% HUMAN SERVICES HEALTHCARE SPENDING DEVASTATES SOCIAL DETERMINANTS OF HEALTH (FY01 - FY14 - STATE OF MASSACHUSETTS) +37%
- 7. Rise of the “Functionally Uninsured” 20 years of wage stagnation/decline caused by healthcare 60% of workforce < $20/hr; Avg family of 4 premiums >$20k >50% of households have < $1k savings >50% of workforce has >$1k deductible WSJ: “Healthcare costs means they spend more time fishing & elk hunting to avoid buying meat at the supermarket.”
- 9. LARGEST GENERATION IN HISTORY (MILLENNIALS) SLATED TO SPEND > HALF OF LIFETIME EARNINGS ON HEALTHCARE MEDICARE TAXES & PREMIUMS DEDUCTIBLES & OUT-OF-POCKET EXPENSES INSURANCE PREMIUMS EMPLOYER PREMIUMS EMPLOYER MEDICAID TAXES FEDERAL & STATE TAXES VISIBLE PAYMENTS HIDDEN PAYMENTS GRAND TOTAL $.6M + $1.3M $1.9M TOTAL LIFETIME EARNINGS $3.8M
- 11. But, innovative employers have proven they don’t have to be victim to the tyranny of low expectations. Some are spending 50% less than status quo health plans with superior benefits. Employers and employees have reached their breaking point…
- 14. The Health Rosetta Dividend Redeploying previously squandered healthcare costs enormously & positively impacts society - “Shop local” comes to healthcare recirculating $$ in local economies - Hotelier pays for employees & their kids college education - Service center’s profit-sharing increases ~$1000/employee - School district has $2B more available for education - Manufacturer able to 2x R&D spend during industry recession saving jobs ~$400 million saved across Health Rosetta advisors Pre 2019 Plan to repurpose $billions into local people/economies Post 2019 If the Health Rosetta was in a pill, it would be the blockbuster drug of the century.
- 15. “Of all the forms of inequality, injustice in health is the most shocking and the most inhuman because it often results in physical death.” The Rev. Martin Luther King at the Second National Convention of the Medical Committee for Human Rights, Chicago, March 25, 1966.