Healthcare USA

The U.S. spent more than $2 trillion dollars on healthcare,11 or $7,026 per capita. This is about twice as much per capita as countries such as Australia, Canada, the United Kingdom, Germany and Japan. In 1960, U.S. health spending accounted for just 5.2 percent of the gross domestic product; today it accounts for 16 percent of GDP. The annual rate of increase in health care spending has remained fairly steady since 2003 - between 6.9 and 6.5 percent. However, some experts have cautioned against becoming overly optimistic about this trend. They cite the influence of the economic cycle on health spending, the increasing incidence of obesity and the rapid expansion of provider capacities as three factors which could make spending relief short-lived. In addition, spending for health care is still growing at more than double the rate of the overall economy.

Rising health care costs raise health insurance premiums, which are also growing at a much quicker pace than overall inflation or workers' earnings. This in turn puts pressure on employers-who provide most coverage for those under the age 65-to shift costs to employees, reduce the comprehensiveness of their coverage or even drop coverage entirely. Rising premiums also make it more difficult for those without access to employer sponsored coverage to purchase insurance policies on their own, which contributes to the rise in the number of uninsured.

Here are some key healthcare facts of USA:

·         By 2016, total health spending is projected to rise to $4.2 trillion.

·         Total health spending remained relatively constant at approximately 16 percent of the gross domestic product from 2003-2006,but is projected to increase to 19.5 percent by 2017.

·         Spending for home health care increased at a faster pace between 2005 and 2006 (9.9 percent) than any other category of health spending, though its impact is limited because it accounts overall for a small share of total health spending (2.5 percent).

·         Of every dollar spent on health services in the U.S., 46 cents came directly from government sources.  http://healthcareatm.com/