What are the primary drivers of rising healthcare costs?

Key drivers include new medical technologies, an aging population, prevalence of chronic diseases, high administrative costs, prescription drug prices, and fee-for-service payment models.

How do healthcare costs impact individuals and families?

Rising costs can lead to medical debt, delayed or forgone treatment, financial stress, and even bankruptcy, significantly affecting household budgets and overall well-being.

What role does health insurance play in managing costs?

Health insurance helps mitigate individual financial risk by covering a portion of medical expenses. However, premiums, deductibles, co-pays, and out-of-pocket maximums still represent significant costs for many.

Are there strategies to control or reduce healthcare expenses?

Strategies include promoting preventive care, negotiating drug prices, increasing price transparency, implementing value-based care models, and reducing administrative waste within the healthcare system.