The Kaiser Family Foundation’s Drew Altman does some Simple Arithmetic to demonstrate that the average cost of a family health insurance policy could reach $30,000 in ten years, which is kind of nuts in an era where overall price levels are likely to be pretty flat and so are wages. The law of compounding will eventually catch up with us. Health care costs simply can’t keep rising like this forever. On the other hand, Altman assumes an 8.7% compound annual rate of growth while we just learned that in Massachusetts we can expect rates to rise 10 percent next year.
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