Is healthcare the next financial crisis? Health care costs are rising at rates higher than most people’s wages, and in some places in the country The Affordable Care Act plan premiums are going up as much as 116%. So what accounts for the sharp increase in premiums? Many providers were unprepared for just how sick people were and they did not price plans accordingly. Enrollment is also lower than expected because many people chose to pay the penalty rather than shelling out for health insurance.
Going forward, it remains to be seen what will happen to healthcare. President Elect Donald Trump has promised to repeal and replace The Affordable Care Act, though what his plan will entail is as yet unknown. Something needs to be done about the skyrocketing cost of healthcare but no one seems to be able to agree about what it will be. Learn more about the current healthcare crisis from this infographic.