By Demetrio J. Aguila III
Miffed about stagnant wages? The hospital down the street may be the culprit.
Spending on hospital care eclipsed $1.5 trillion in 2023, the latest year for which there’s data — more than any other provider category. That represents an increase of more than 10% over the previous year.
It’s no wonder the cost of covering a family of four through a workplace plan has surpassed $35,000. That’s approaching half of the median household’s income.
Insurers tend to get the blame for surging costs. But premiums are rising because hospitals are raising prices without restraint. Since 2006, hospital prices have increased more than twice as much as prices for physician services and insurance.
High-quality, low-cost care is available outside big hospitals. Employers — and