Health Care Costs 101: Slow But Steady

Wed Aug 22 15:55:19 PDT 2012

August 15, 2012

Health Care Costs 101: Slow But Steady

California Healthcare Foundation

As states sprint toward health reform's 2014 implementation finish line, it is projected that the federal Affordable Care Act will cause a clear spike in US health spending. Analysts project an increase of 7.4% over 2013.

This increase will break a near-decade-long slowing in national health spending. CHCF's Health Care Costs 101details how much is spent on health care in the US; which services are purchased; and what proportions are financed by households, government, and business. The report is based on the most recent spending data available.

Key findings from this year's report are:

• Nearly $2.6 trillion was spent on medical care in the US in 2010, or $8,402 per person.

• In 2010, the federal government became the largest financer of health care (29% of spending), surpassing households (28%) for the first time.

• Spending on Medicare and Medicaid together consumed 23% of the federal budget and exceeded defense spending by three percentage points.

• The federal government spent half of its revenues on health care, while health care costs consumed only 6% of personal income.

• Public health insurance paid for 39% of the nation's medical care; private coverage paid for 33%. Out-of-pocket spending by consumers accounted for 12%, a figure that has been declining for many years.

• In 2009, health spending increased 3.8%, an all-time low. The 2010 increase was slightly higher at 3.9%.

The complete report, a quick reference guide, and data file are available online. In addition, an interactive graphic shows the change in health care spending by payer from 1960 to 2010.

This report is published as part of the CHCF California Health Care Almanac, an online clearinghouse for key data and analysis examining California's health care marketplace. Find all Almanac reports atwww.chcf.org/almanac.

Bryan Sloane
Deputy Editor, CAL/AAEM News Service

Brian Potts MD, MBA
Managing Editor, CAL/AAEM News Service

Contact us at: calaaem.news.service1 at gmail.com

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