Health-care expenditures reach new record

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

Health care expenditures in the United States increased only modestly in 2011, but expenditures now are nearly double what they were just over a decade ago, according to government research released Monday, Business Insurance reported.

In 2011, total U.S. health care spending hit $2.701 trillion, or $8,680 per person. While this is a record, expenditures rose only 3.9 percent in 2011. The percentage increase was unchanged from increases in 2010 and 2009, according to statistics compiled by researchers at the U.S. Centers for Medicare & Medicaid Services (CMS) and published in the journal Health Affairs.

Those annual percentage increases were the lowest in the 52 years that government researchers have been tracking and compiling such information.

A separate actuarial study by the Oliver Wyman Group estimates that young adults in their 20s will pay up to 42 percent more for health insurance than they would have without the federal health-care overhaul, the Minneapolis/St. Paul Business Journal reported. Effective in 2014, older Americans can’t be charged more than three times what young adults pay for health insurance; that health reform rule will effectively cause young adults to subsidize older people with more health problems, the study found.

The  CMS study showed that health-care expenditures remained at a record 17.9 percent of the U.S. gross domestic product in 2011, also unchanged from 2010 and 2009. In 2000, health care expenditures were 13.8 percent of GDP.