Higher hospital prices mean smaller paychecks and inflated premiums

By: Jennifer Schultz

Outlets: Minnesota Reformer

Published: July 2, 2026

Words: 908

Last Updated: 3 weeks ago

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The U.S. is on track to spend $6 trillion on health care this year and $9 trillion by 2034. Health policy experts have long known that high prices are the key drivers of health spending.

The late health economist, Uwe Reinhardt, published a paper in 2003 famously titled, “It’s the Prices, Stupid.”

The much-circulated paper concluded that the main reason the U.S. spends more on health care than other developed countries is because …

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