Insights · October 1st, 2009

Recently my friend Mark Anderson was quoted as saying that rising health insurance costs were a key reason that General Motors faltered. This was my argument when I suggested to Business Week early this year that relieving business of the private insurance industry costs would be an innovation that would assist in getting beyond the recession.

Here is an example of what I am talking about. At we pay Regence Blue Shield of Washington for a small company policy that covers just two people. Today, I received my new annual rate beginning November 2009 – and for the same coverage that does not include dental or vision care the cost increase is 29%, up to a total of $1,880 a month. $22,500 a year to cover two people.

It is not clear how this is in any way sustainable, and we are like every small business in America. I presume the gambit by Regence is to encourage us to drop or reduce coverage. Hard to see how it could be anything else.

Health care insurance reform in the U.S. would be a good thing for the future.

Business & Economy Innovation
Nikolas Badminton – Chief Futurist

Nikolas Badminton

Nikolas is the Chief Futurist of the Futurist Think Tank. He is world-renowned futurist speaker, a Fellow of The RSA, and has worked with over 300 of the world’s most impactful companies to establish strategic foresight capabilities, identify trends shaping our world, help anticipate unforeseen risks, and design equitable futures for all. In his new book – ‘Facing Our Futures’ – he challenges short-term thinking and provides executives and organizations with the foundations for futures design and the tools to ignite curiosity, create a framework for futures exploration, and shift their mindset from what is to WHAT IF…

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