Since the end of the Great Recession, more than a quarter of economic growth in Indiana has been swallowed by ballooning healthcare cost growth. Our healthcare spending is a clear national outlier, ranking only behind Alaska. Since the end of the Great Recession, increased healthcare costs absorbed a stunning one-third of growth in Hoosier family incomes. For about half of Indiana families, just the extra cost of healthcare monopoly prices is more than their combined property and income taxes.

One effect of this is that for a decade, Indiana’s economy grew at only half the pace of the nation as a whole. Healthcare cost growth is a top three leading cause of our dismal economic recovery, and a drag on Hoosier families and businesses.

Michael J. Hicks, PhD, is the director of the Center for Business and Economic Research and the George and Frances Ball distinguished professor of economics in the Miller College of Business at Ball State University. Hicks earned doctoral and master’s degrees in economics from the University of Tennessee and a bachelor’s degree in economics from Virginia Military Institute. He has authored two books and more than 60 scholarly works focusing on state and local public policy, including tax and expenditure policy and the impact of Wal-Mart on local economies.