Millions of Americans are going bankrupt and suffering from illness and injury because of rising health costs. Many insured Americans are now joining the masses of the uninsured because of rising health costs. My friend’s parents never see a doctor for health-related issues because of rising health costs. Why are health costs rising?

The reason for rising health costs is the same for why other costs are increasing: new medical technology, more people are using the health care system, and because of the aging population. All these costs combined are creating this snowball effect of rising costs. When you take all these different factors into consideration, it’s amazing to realize how our government either didn’t see this coming or didn’t foresee a budget problem in the future.

The United States makes a huge investment in advancing technology to more efficiently treat patients and facilitate their recovery. But what good are these innovations when the treatments that they provide are too expensive for people to receive it? Health costs are rising at a greater rate than inflation and have been rising for years. As a result, the federal government is spending more and more money to support those patients under Medicare and Medicaid.