The Federal Reserve says so

[Joel Clemmer]

The Fed does a heck of a lot more than adjust the fed funds interest rate. For example, they annually survey the financial condition of typical Americans. The resulting publication is essential and, glory be, in plain English.

I am sympathetic to liberal economists who have been saying that Americans report relative financial well-being for themselves within a bad overall economy. According to the Fed, that's not so; 2022 was an objectively bad year.

In making the case they reveal some challenging numbers for U.S. health care (presuming the reader cares about the well-being of others). I think the upshot is that "Out of pocket" often means "Skip it."

Here are some snippets.

. . .

. . .

Obviously, our patchwork of programs is not working well. And the news from D.C. indicates it's about to get worse.

Joel Clemmer

[Kip]

Figure 20 is very interesting, very telling. It shows the percent of the population skipping medical care because of cost declining slightly after 2014 (the year the ACA's insurance subsidies took effect), from 32 percent in 2013 to 23 percent in 2020, then rising back up to 28 percent in 2022. 

The uninsured rate behaved quite differently. It dropped dramatically after 2013 and stayed relatively low. The different trajectory of these measures tell us something about the quality of the coverage the "insured" are getting.

Kip

--
--
Group Web Site: http://greatnorthernhealth.org
*************************************************************
You received this message because you are subscribed to the Google Groups "Great Northern States Health Care Initiative" group.
To post to this group, send email to GreatNort...@googlegroups.com
To unsubscribe from this group, send email to GreatNorthernHe...@googlegroups.com
For more options, visit this group at http://groups.google.com/group/GreatNorthernHealth
***************************************************************

---
You received this message because you are subscribed to the Google Groups "Great Northern States Health Care Initiative" group.
To unsubscribe from this group and stop receiving emails from it, send an email to GreatNorthernHe...@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/GreatNorthernHealth/CAM15Yf22NFs9uFE8z6rBFkshdP___1DE%3DLCRJQ%2BXTK8hoUj0ig%40mail.gmail.com.