Wednesday, June 25, 2008
Health Care Costs June 25, 08
Below was pulled from an email I received.
For example, the total annual medical spending required to cover an average low-income uninsured adult with Medicaid for a full year would have been $3,084 in 2005, while covering that person with private health insurance instead would have cost $3,899, or about 26 percent more. More dramatically, if the uninsured person were covered by Medicaid, the annual out-of-pocket expenses for that person – including payments for deductibles, copayments and coinsurance, and noncovered services, but not premiums – would be $109, as compared to $771, or about 600 percent more, under private health insurance.
Read the Study