Why Am I Paying $40k for the Birth of My Child?
10 days ago
- #family planning
- #poverty line
- #healthcare costs
- The U.S. poverty line is outdated, with real poverty closer to $140,000 due to shifts in household spending towards housing, healthcare, and childcare.
- The author shares personal experience of paying $30,000-$40,000 out-of-pocket for each of his three children's births, highlighting the unsustainable costs of healthcare for self-employed individuals.
- Healthcare 'participation costs' have skyrocketed, with the author's annual health insurance premium and deductible totaling nearly $40,000, plus additional PEO fees.
- The Affordable Care Act (Obamacare) fails to adequately cover pregnancy and childbirth, leaving many without viable insurance options.
- The author faces limited choices: continue paying high premiums, drop insurance, switch to less favorable plans, or abandon his business for corporate employment.
- The healthcare system's high costs discourage hiring and business growth, as well as family expansion, posing broader societal and economic risks.
- The societal impact of high healthcare costs includes reduced family formation and potential political extremism due to economic dissatisfaction.
- The author criticizes economists and policymakers for ignoring real-life financial struggles, emphasizing the need for systemic change.