Health Care Costs For The United States

1705 Words Nov 20th, 2015 7 Pages
The total health care spending in the United States is expected to reach $4.8 trillion in 2021, up from $2.6 trillion in 2010, and, $75 billion in 1970. To put it in context, this means that healthcare spending will account for nearly 20 percent of gross domestic product (GDP), or one-fifth of the U.S. economy, by 2012. Many consumers and small employers are struggling to afford their health insurance premiums. Some employers are not able to offer health care coverage at all. For firms with fewer than 10 employees, only 50% offered coverage to their workers in 2012.
As a result, 49 million Americans lacked health insurance in 2011. Those consumers with health care coverage experienced a 7.2 percent increase in their share of health care costs between 2011 and 2012. Health care costs for American families in 2012 exceeded $20,000 for the first time. Increasingly, Americans are having problems paying for care — 26 percent report they, or a family member, had problems paying medical bills in the past year. Fifty-eight percent of Americans reported foregoing or delaying medical care in the past year. Escalating health care costs are also straining federal and state budgets, hindering the nation 's ability to pay for important initiatives needed to address other significant issues.
According to National Health Expenditure data_____year_______, the growth in premiums tracked directly with the underlying cost of medical care from 2000-2010 — a trend that has been consistent for…

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