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Health Care Corner The Cost of Care A s the political pundits in Washington, D.C. grapple with repealing, replacing, or attempting to repair the Aff ordable Care Act, where is the debate of the skyrocketing costs of health care services? Most Americans agree that having access to aff ordable, high-quality health care is something everyone should have equal opportunity to obtain. The challenge is that while the cost of insurance premiums are often in the spotlight, the cost of care is critically discussed much less often. Since 1999, insurance premiums have climbed 213 percent when purchased through an employer, according to the Kaiser Family Foundation, and yet wages are up only 60 percent. This imbalance is clearly a cause for concern, but what is causing such a discrepancy? While there is not one simple cause of the sharply increasing cost of care, the fundamental costs of receiving care must be addressed. To start, there is very little consistency in pricing for care. While some discrepancy is understandable (cost of living, wages, taxes, etc.) why would a knee replacement cost, on average, $24,000 in New Jersey and $57,000 in Sacramento? The common MRI procedure is another great example. In Washington state, an MRI received at a BY MICHAELA GORMLEY MARKETING AND COMMUNICATIONS COORDINATOR CAPITAL BENEFIT SERVICES free-standing imaging center typically costs about $500, while at a hospital, the average cost is $2,500. Adding fuel to the fi re are prescription drug prices. While in most industries products tend to drop in price the longer they are on the market, the opposite occurs for prescription medications. According to Reuters, prices for four of the nation's top 10 drugs have increased more than 100 percent since 2011. Six others went up more than 50 percent. Together, the price increases on drugs for arthritis, high cholesterol, asthma, and other common problems added billions in costs for consumers, employers, and government health programs. With this recipe of high costs, an aging population, and a growing epidemic of unhealthy habits, we shouldn't be so surprised that insurance premiums are so expensive. While no one should have much sympathy for the insurance industry and the many layers of embedded overhead costs they contribute to the system, like everything else, there are many parts to a viable solution. Until we address the cost side of the health care equation, our elected representatives will continue to struggle to fi nd ways to slow the rising costs of insurance. With the health insurance industry constantly in the crosshairs, why isn't the cost of care being questioned? Until we address the cost side of the health care equation, our elected representatives will continue to struggle to fi nd ways to slow the rising costs of insurance. 53 SUMMER 2017 master builder membership value