Last Friday, the U.S. Department of Labor issued its updated numbers regarding inflation, and what it showed was some good news: that in fact prices were flat; they fell 0.1 percent. Producer prices the day before was reported only went up 1.2 percent. But not every sector of the U.S. economy is so lucky. If you are a self-employed individual, if you are a small business, the Department of Health and Human Services issued another report that showed that health insurance premium costs are going up at a frightening rate: in the State of Connecticut, where I come from, a 21 percent increase; in California, 35 percent. Across the country we are still seeing a broken health insurance marketplace that lands the hardest on the self-employed and the individuals who are trying to go out and get coverage for themselves and their families. We need reform which will spread coverage, create large purchasing pools, and give Americans the same benefit that every Member of Congress has who participates in the Federal employee health plan.
Editor's note · Context
The speaker addresses rising health insurance premium costs and the need for reform.
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