Medical conditions are a growing source of income for many Michigan families, but the state is facing an increased burden of medical costs.
According to a new report from the Michigan Economic Development Corp., medical conditions now account for nearly 40 percent of Michigan families’ income, up from 30 percent a decade ago.
The number of medical conditions rising in Michigan is expected to continue rising over the next decade, said Michelle McQuaid, executive director of the Michigan Development Corp.
The report found that medical conditions are now costing Michigan families more than $5,800 per year on average, and that medical treatment for these conditions is becoming more expensive as the cost of treatment grows.
“We are seeing an explosion of medical treatments and a massive increase in costs that are being borne by our citizens,” McQuam said.
“We need to make sure that people have access to medical care when they need it.”
According to the report, medical treatment is being used to treat conditions such as cancer, stroke, heart disease, arthritis, and chronic fatigue syndrome.
In 2016, medical care accounted for about 27 percent of total health care spending, according to the Michigan Department of Health.
The state also spent $2.6 billion on medical costs, which represents about 19 percent of its health spending.
The Michigan Development Corporation estimated that medical costs will continue to increase over the course of the next 10 years, as Michigan’s population ages and more people live in poverty.
That will mean more and more patients and doctors will need to take on more care and provide more treatments.
The growth in medical costs is a result of a number of factors, said McQuain.
Michigan has become more affordable over the past few years and has seen the largest population growth in the country over the last few decades.
However, some of the cost increases are due to increased access to health care and decreased competition from other states.
McQuains report found Michigan residents are seeing their healthcare costs increase at a faster rate than the population.
Medical treatment for conditions such a heart attack, an autoimmune disease, and diabetes can be expensive, and some states are not making the most of this increase.
Michigan spends more on health care for people with diabetes than any other state, the report found.
The other major factor contributing to the increasing cost of medical care is that Medicare is underfunded, according the report.
Michigan is one of 14 states that do not have an effective way to calculate Medicare reimbursement for medical care.
The report said Michigan is not the only state where the number of people who get Medicare payments goes down as Medicare costs rise.
The U.S. Department of Treasury reported in 2016 that the average Medicare payment to Michigan residents was $14,929 in 2019.
According to McQuay, the medical cost increase is a sign of how Michigan’s economy is getting worse and people need to be more prepared.
“If you have a situation where you are having a heart or diabetes and it’s expensive and you can’t get medical treatment because you can barely pay your bills, you need to look at ways to better manage your healthcare costs,” Mcquam said, adding that the health care system should also consider ways to reduce the amount of care they receive.
McQuaid said Michigan should take a closer look at how its health care funding is calculated.
“In Michigan, there is a federal mandate that we have to use federal funds,” McShay said.
In the next few years, McShays report said, the federal government is expected give Michigan more money to pay for Medicaid, Medicare, and other health care services.
“It is not something that can be taken lightly.
We have to be better,” McSays said.