High Healthcare Prices Mean Lower Wages
If employers had increased wages rather than premium contributions, Americans would have earned an additional $125,340 between 1988 and 2019.
Hospital mergers result in a $521 increase in prices, which translates into a $638 decrease in worker wages.
66% of individuals with commercial insurance carry medical debt.
Sources
Employer-Sponsored Health Insurance Premium Cost Growth and Its Association With Earnings Inequality Among U.S. Families
In this economic evaluation of US families receiving employer-sponsored health insurance, the mean cumulative lost earnings from 1988 to 2019 associated with growth in health insurance premiums was $125 ,340 per family (in 2019 dollars) or nearly 5% of total earnings over the 32-year period.
Paying for It: How Health Care Costs and Medical Debt Are Making Americans Sicker and Poorer
As the responses show, many Americans, regardless of where their insurance comes from, have inadequate coverage that’s led to delayed or forgone care, significant medical debt, and worsening health problems.
Who Pays for Health Care Costs?The Effects of Health Care Prices on Wages
Research finds that hospital mergers lead to a $521 increase in hospital prices, a $579 increase in hospital spending among the privately insured population and a similar, $638 reduction in wages.