- Healthcare costs in the United States have been rising for decades and are expected to keep increasing.
- The United States spent more than $3.8 trillion on healthcare in 2019 and exceeded $4.1 trillion in 2020, according to a study by the Peterson and Kaiser organizations.
- A Journal of the American Medical Association (JAMA) study found five factors that affect the cost of healthcare: a growing population, aging seniors, disease prevalence or incidence, medical service utilization, and service price and intensity.
- In the long term, the financial impact of COVID-19-related healthcare spending is not expected to significantly affect healthcare spending in general.
- The No Surprises Act—and other legislation included in the Consolidated Appropriations Act, 2021—offer some help when it comes to unexpected healthcare billing and costs.
Healthcare costs have risen dramatically in the United States over the past several decades. According to a study by the Peterson Center on Healthcare and the Kaiser Family Foundation (KFF), U.S. healthcare spending rose nearly a trillion dollars from 2009 to 2019, when adjusted for inflation.
The study reported that U.S. healthcare spending during 2019 was nearly $3.8 trillion, or $11,582 per person. By 2028, these costs are expected to climb to $6.2 trillion—roughly $18,000 per person.
Where does that money go? According to the U.S. Centers for Medicare and Medicaid Services (CMS), 2019 healthcare spending can be broken down into 10 categories:
- Hospital care (31%)
- Physician services (20%)
- Prescription drugs (10%)
- Other personal healthcare costs (5%)
- Nursing care facilities (5%)
- Dental services (4%)
- Home healthcare (3%)
- Other professional services (3%)
- Other non-durable medical products (2%)
- Durable medical equipment (2%)
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