National Health Spending Projections Through 2020
The total amount the U.S. spends on health care is projected to grow to 20% of the economy by 2020
From Health Affairs
July 31, 2011
Introduction: A paper from Health Affairs shows how total health care spending will increase over the next ten years. By 2020, it is projected to exceed four trillion dollars, representing nearly 20% of the entire American economy.
An excerpt from the paper: In 2014, national health spending growth is expected to reach 8.3 percent when major coverage expansions from the Affordable Care Act of 2010 begin. The expanded Medicaid and private insurance coverage are expected to increase demand for health care significantly, particularly for prescription drugs and physician and clinical services. Robust growth in Medicare enrollment, expanded Medicaid coverage, and premium and cost-sharing subsidies for exchange plans are projected to increase the federal government share of health spending from 27 percent in 2009 to 31 percent by 2020. This article provides perspective on how the nation’s health care dollar will be spent over the coming decade as the health sector moves quickly toward its new paradigm of expanded insurance coverage.
Read the full paper.
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