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By Alice Bond | Project 2029 Contributor In 1950, the average American paid roughly $84 per person, per year for healthcare, according to a Social Security Administration report. Or they just didn't go to a doctor. By 2000, a half a century later, the typical American averaged $6,649 per year in health expenditures. In 2024, only a quarter of a century later, the total healthcare bill is projected to nearly triple, reaching $15,610 per person, per year. Those accelerating numbers include out-of-pocket, government, and insurance costs. You’ll also be interested to know that $100 in 1950 is equivalent in buying power to about $1,350 today, according to the Bureau of Labor Statistics. The high dollar amounts we encounter in healthcare is one distinct barrier to care. Many Americans lose access simply because they can't afford care. Millions lost access this January due to expiring subsidies for the Affordable Care Act (ACA) and cuts to Medicaid. Republicans voted against extending COVID-era healthcare subsidies and funding Medicaid. The very real fallout of this political vote could impact 20 million American lives, resulting in premium payments that have more than doubled. People will pay exorbitant rate hikes or shop for inferior coverage. An estimated 5 million will go without. A devastating result. Instead, Project 2029 has some innovative, practical and proactive suggestions, the kind of healthcare planning and policy that Americans desperately need now. Take a look and see if you don’t feel better. Then tell any candidates for office you encounter to prescribe our ideas.
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