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17 May 2008

The Economy: Americans Selling Belongings to Make Ends Meet

Americans are selling belongings just to make ends meet. Many are struggling with debt, raising prices in gas and food as well as utilities. The cost of health insurance and prescriptions on are on the rise also. To help meet their needs many people are selling family heirlooms as well as their own belongings on websites such as eBay , craigslist, auctionPAL, LiveDeal, and eBizAuctions...

...Steadily rising health care costs are consuming an ever-growing portion of American's household budgets. Many, under age 65 are in families that will spend at least 10 percent of their income on health costs in 2008. The main reason consumers are spending more on health care is because of rising health insurance premiums. Between 2000 and 2007, the average annual premium for job-based family health coverage paid for by employer and employee combined rose from $6,351 to $12,106, an increase of more than 90 percent. Despite decreases in generic prescription costs by large retailers, formulary and non-formulary co-pays continue to increase as well.

Socyberty 5/17/08 9:40 PM

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