U.S. Centers for Medicare and Medicaid Services predicts that healthcare spending will on average rise 5.5 percent annually from 2017 to 2026 and will comprise 19.7 percent of the U.S. economy in 2026, up from 17.9 percent in 2016.
By 2026, health spending is projected to reach $5.7 trillion. Prescription drugs are expected to see the fastest annual growth over the next decade, rising an average of 6.3 percent per year.
The rising cost of healthcare makes it a luxury for many people.
Healthcare costs can wreak havoc on credit scores, forcing families to go without important purchases like automobiles, furniture, even the purchase of a home.
Carolyn Kenyon and Judith Jones of Ithaca, N.Y. wanted to help families rid the burden of these healthcare costs. So they decided to start a fund-raising campaign to assist people with medical debt in New York.
Together they raised $12,500 over the course of the summer. To maximize the investment, they decided to send to a debt-forgiveness charity who purchases old debt on pennies on the dollar.
In this case, the charity purchased $1.5 million of medical debts in their name, for only about half a penny on the dollar. Christmas came early for many families as letters were sent out in November to inform people of their surprise gift.
The Next Leap Forward
Doing something from the bottom of your heart and expecting nothing back in return is probably the most selfless act a person could bestow on another human being.
Your character is defined by your actions.
This story hits many of my golden rules.
Doing the right thing when no one is looking. Giving selfless of yourself to aid others in need. Having the courage to take on the unthinkable. Acting out by example, your talk becoming action. To define yourself, thru your own conscience. Providing a symbol of hope, honesty, and sincere humility