A study by NBER reveals that rising health spending can significantly increase unemployment, with 1.44 million people losing their jobs due to escalating insurance costs.
From 2007 to 2014, a 10 percentage-point rise in health spending above inflation led to 0.86 percentage point hike in unemployment rates, demonstrating a direct economic impact.
The authors found that increased healthcare costs resulted not only in job losses but also significantly reduced worker incomes and federal revenues, highlighting broader economic implications.
Health insurance premiums have surged by 47 percent over the past decade, exacerbating the financial burden and contributing to increased incidences of deaths of despair.
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