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Health care costs to spike if overhaul is fully implemented

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    Dr. Siegel explains fallout from projected 7.4 percent increase in 2014

  • Duration 3:42
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-- a new forecast for the future and health care industry con are economists rather predicting a seven point 4% increase in spending on health care.

By the year 2014.

-- the president's overhaul is fully implemented by the way 2014 is the year it's expected to your doctor Marc Siegel -- medically team.

Professor of medicine at NYU's line go medical center nice to see you -- good morning to you.

Morin -- we have some graphics we could show some -- -- before I get out to all of that you believe within your profession seeing patients every day.

That overuse.

Is an issue here.

Because the more about it here's what I mean by overuse.

We don't have sticker shock bill when you -- a new patient to insurance if they don't know what these things cost.

All they know is the premium and they may see their premium rise but they don't know why.

And you know Martha and I talked a couple weeks ago about how some hospitals are charging an insurance company 4000 dollars for cat -- When you could pay a hundred or 250 -- out of your pocket.

Patients don't realize that things like health savings accounts -- you actually know what you're paying for are being.

Gotten rid of in terms of the health reform wolf -- days and so here we have a situation and it's a perfect storm.

Where 2014 you're gonna get sixteen million more Medicaid patients being added on.

That's gonna of course -- fortune people are gonna go to the state exchanges -- the -- stays in and they're gonna get subsidized insurance.

So there's going to be a problem and end all the young people that are going to be added we're gonna -- -- I have insurance now gonna go right to the doctor.

All of that cost a tremendous amount of money here's the information we have 20147.

Point 4%.

-- that's a spike in the year 2014.

But even if you keep.

Though the system the way it is right now.

Both systems level off.

Toward the year 2000 -- And the spending still increases and you when you know there there there based on this information there Arnold breaks right -- no matter what I should add that no matter what even if Skoda is votes this loud it even if even if this logos -- way we still a problem because we have seventy million baby boomers being added to Medicare.

The projections are like 20/20 one you're gonna see four point five trillion dollars spent on health care which is 15 of the GDP it's an unbelievable number and it's remarkable it is based on -- because people use insurance when they don't -- it they use it when they're not sick the user when they're worried.

Doctors afraid of malpractice a busy ordering tests the -- don't -- Patience it tests are overcharged for.

All of this is where the reform that goes back to your point sticker shock but there has been a three year slowdown health care spending.

I can explain what why is that that's because of the recession because people now are staying home they can't even afford the co pay if you're not -- if you're thinking you may lose your job.

You're not gonna go to the doctor for a basic service you're gonna call -- on the phone.

I get more more phone calls people don't wanna -- and they don't wanna pay the -- so that's because of the economy abandon logic tells me once the economy improves.

Health care costs are gone now you've got that extra and then you bad -- -- on with the health care law that stands in the US Supreme Court and what you have.

You have a perfect storm but bill.

-- greasing the wheels that helped along what you understand what I just said people have to pay to go to see the doctor under obamacare you don't to get rid of the co pays they get rid of the payments out of pocket.

So they didn't think it's gonna come in whenever they want if I if I can see them and I've said before on this show.

We have a doctor shortage so I'm gonna be available to see them they may go to the emergency room.

That Jack's health care cost -- -- them or so of millions and millions of Americans don't see you bill.

They're immune to the cost system they have no idea.

And they really should know and the only way to get them to -- to have them pay out of pocket as many other countries do Mark Siegel thank you Susan great to see them.

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