United States is not the only place preparing for rapid expansion of health insurance coverage and its implications on society. Parts of Asia report 76% and 50% growth rate of health insurance industry for the current year and next projected year, respectively. It is important to realize that in this context of reporting "growth of the industry" refers to premium volume that increases due to a number of causes: 1) medical inflation typically adding 5-10% per year, 2) increasingly expensive new technologies and treatment adding another 10-20%, 3) expanded number of people covered due to legal mandates (this applies both here and in Asia, 4) increased government spending as part of a health insurance reform laws. Still, regardless of the underlying causes, this phenomenal year-after-year growth in such a hugely important industry has the abiltiy to change our society in ways we have not fully comprehended. My blog universalhealthinsurance has been covering this specific issue for years and now it seems to finally have caught the attention of other media.
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