Unbiased Analysis of Today's Healthcare Issues
In the short-run, the answer is likely ‘yes’. As COVID-19 (hopefully) slows and if economic growth remains strong, health care spending will fall as a share of the US economy. At least this is what the Office of the Actuary (OACT) at Centers for Medicare and Medicaid Services (CMS) thinks in their Health Affairs study…
According to a recent Health Affairs paper, health care spending as a share of GDP grew by the largest percentage point increase since the U.S. government has tracked national health expenditure. Not only did the numerator (health spending) increase–especially for public spending–but the denominator also decreased (i.e., GDP). The article begins as follows: “National health…
The Congressional Budget Office (CBO) periodically releases its 75-year health care spending projections. Current projections forecast the following health care spending levels: Total spending on health care would rise from 16% of GDP in 2007 to 25% in 2025, 37% in 2050 and 49% in 2082. Federal spending on Medicare (net of beneficiaries premiums) and…