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I recently moved and came across the bills and payment receipts saved by my mother for the costs related to my Birth in 1953. Unpacking boxes is a little like archeology.
My birth was pretty unremarkable. No problems to overcome or excessive length of stay in the hospital.
Total cost: $197.20 which included all of the nursing, room charges, doctors and any care, food or drugs needed. Total billing extended across 5 days.
According to WebMD, that cost today would be about $9600.00.
The increase from $197.20 to $9600.00 is a pretty big jump. $197.20 in 1953 was only 2% of the costs incurred on average today. 2%! stated the other way around, the current price is 4,868% of the 1953 price.
Let's compare this to the cost of new car.
In 1953, you could buy a new Lincoln off the showroom floor for about $3550.00. At the same increase in cost as the healthcare increase, that Lincoln would be $177, 500.00.
A 2020 showroom price of a new Lincoln starts at $46,305. Actual increase is 1,304% of the 1953 pricing. 1953 cost is is about 7.6% of this.
The median "Family Income" in 1953 was about $4200.00 in 1953. In 2019, the Median "Household Income" was around $63,378: An increase of about 1,509%. 1953 level was about 6.6% of this.
The cost of healthcare in this one area seems to have suffered outrageous inflation. The outrageous increase in the cost of healthcare could be one of the issues impacting the cost of healthcare insurance.
Of course, I could be wrong...
How Much Does It Cost to Have a Baby? Hospital Costs, Baby Supplies, and More
2020 Lincoln(R) Continental | Midsize Luxury Sedan | Lincoln.com
1950s Cars - Lincoln
Yeah, and if you got sick back then they pretty much sent you home to die. You really want to return to an early 1950's level of medical care?