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The rising cost of prescription drugs is a key driver of overall healthcare spending in the U.S. This trend has significant implications not only for Americans who rely on medications, but also for our nation’s budget and fiscal outlook.
Medical spending increases rapidly with age.
https://www.pgpf.org/chart-archive/0020_medical-spending-by-age
The percentage of children without health insurance has declined since 1997.
Overall healthcare costs — including all private and public spending — are anticipated to rise by an average of 5.5 percent per year over the next decade.
Every year the Social Security and Medicare Boards of Trustees issue reports on the fiscal health of these vital programs.
https://www.pgpf.org/analysis/social-security-medicare-trustees-reports
Medicare faces significant financial challenges in future years because of rising healthcare spending and an aging population.
https://www.pgpf.org/analysis/2019/04/trustees-funding-challenges-threaten-medicare%E2%80%99s-future
The Social Security and Medicare Trustees released their annual reports, which show that these vital programs are on an unsustainable path.
https://www.pgpf.org/blog/2019/04/five-charts-about-the-future-of-social-security-and-medicare
The latest trustees reports make clear that Social Security and Medicare beneficiaries face substantial cuts in the near future unless policymakers take action to make these vital programs solvent.