Within a decade, an aging America will spend one of every five dollars on health care, according to government analysts who see no end to increases in the cost of going to the doctor and taking medicine.
As Americans make more money, they spend more to get healthy. People making $90,000 are more likely to visit a doctor than those who make $50,000.
The country's aging population is expected to drive increases in two key areas of health care spending: nursing homes and home health.
Spending on nursing homes will grow from $121.7 billion in 2005 to $216.8 billion in 2015. Home health will grow from about $49 billion last year to $103.7 billion in 2015. It represents the nation's fastest-growing sector in health care.
Medicare spending will more than double, from $309 billion in 2004 to $792 billion, in 2015. Medicaid spending will grow from $293 billion to $670 billion during the same time span.
Investment in research, equipment and people also drives the growth in health care spending.
Projections, published in the journal Health Affairs indicate that the nation's total health care bill by 2015: more than $4 trillion. Consumers will foot about half the bill, the government the rest.
These changes will impact payers and providers to re-examine fundamental questions regarding the delivery and financing of health care services.
Source: Associated Press
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