US Health Spending May Have Hit $2.4 Trillion in 2008

Private health spending growth due to hit 15-year low
By Jane Parry
HealthDay Reporter

TUESDAY, Feb. 24 (HealthDay News) -- Health spending in the United States was estimated to be $2.4 trillion last year, and is expected to account for an unprecedented share of the economy this year, according to a report published online Feb. 24 in Health Affairs.

Andrea Sisko, and colleagues at the Centers for Medicare and Medicaid Services in Baltimore, write that the economic downturn will affect health spending patterns, by reducing the amount of private health insurance coverage and increasing Medicaid enrollment and spending.

The share of the economy that is accounted for by health spending is set to grow by 1.0 percent from 16.6 percent in 2008 to 17.6 percent in 2009, the largest single annual increase, and is expected to double by 2018 to $4.4 trillion, accounting for 20.3 percent of gross domestic product, the authors write. Spending on Medicaid is estimated to have increased by 8.1 percent in 2008 versus 2007 to $466 billion, and future Medicare spending will accelerate as the baby-boomer generation becomes eligible, the researchers report.

"The recession has wide-reaching implications for the health care sector," Sisko noted in a statement. "Policymakers and the public will be faced with tough decisions regarding the future of the health care system."

Abstract
Full Text

Copyright © 2009 ScoutNews, LLC. All rights reserved.

Powered by

jQuery UI Accordion - Default functionality

For life-long learning and continuing professional development, come to Lippincott's NursingCenter.

Nursing Jobs Plus
Featured Jobs
Recommended CE Articles

Debunking Three Rape Myths
Journal of Forensic Nursing, October/December 2014
Expires: 12/31/2016 CE:2.5 $24.95


Drug updates and approvals: 2014 in review
The Nurse Practitioner, 13December 2014
Expires: 12/31/2016 CE:3 $27.95


Can Food Processing Enhance Cancer Protection?
Nutrition Today, September/October 2014
Expires: 10/31/2016 CE:2 $21.95


More CE Articles

Subscribe to Recommended CE

Recommended Nursing Articles Evidence Based Practice Skin Care Network NursingCenter Quick Links What’s Trending Events