THE HIDDEN TAX: HOW HEALTH CARE IS RESHAPING HOUSEHOLD FINANCES AND THE US ECONOMY
Most people don’t realize how much of their financial lives and the wider US economy are quietly being shaped by the health care system. Even when they’re not accessing the US health system, families are stilling paying for it — in stagnant wages, shrinking paychecks...
Most people don’t realize how much of their financial lives and the wider US economy are quietly being shaped by the health care system. Even when they’re not accessing the US health system, families are stilling paying for it — in stagnant wages, shrinking paychecks, and premiums and deductibles that climb faster than incomes. Health care has become the single largest, least-understood drag on American household finances and the US economy.
In this keynote, Yale economist Zack Cooper pulls back the curtain on how the cost of health care reaches into every paycheck and is threatening the American dream. Drawing on his research on health spending, economic growth, and income inequality, Zack explains the mechanism most people miss: how employer health costs suppress wages, how rising deductibles reshape household budgets, and why the typical family feels the pinch even when the economy is growing. Critically, he also takes the next step of explaining what we have to do if we want to change it.