Health Care Spending
National health care spending within the United States is at an all-time high and continues to rise. The nation is driving into economic woes with health care at helm. This paper will provide an overview of current national health care expenditures. It will also provide opinions on if the spending is sufficient and where and why cuts should be made. To help understand costs and payment, a breakdown of how health care is financed is included. The second half of the paper will provide a forecast of the future economic needs of U.S. health care, why these needs must be addressed, and my opinion on how the finances will be covered.
Health Care Expenditures
Healthcare spending within the United States (U.S.) is continually rising. In 2011, U.S. health care spending increased 3.9%. The total for health care spending was $2.7 trillion; the largest amount spent in U.S. history. This figures out to approximately $8,680 per person. Although health care spending increased significantly, its share of national spending did not change in 2011. The portion of Americans’ dollars spent on health care remained at 17.9%. The share was the same in both 2009 and 2010 (Centers for Medicare and Medicaid Services, 2012). Considering that the portion of money spent toward healthcare has been at a constant for the past three years, it would seem that the amount being spent is right on target, and that is neither too much or not enough.
Each year projections are made for what the nation will spend on products and services, including health care. In 2009, adjustments had to be made for the 2008-2018 health care projections (Centers for Medicare and Medicaid Services, 2012). It was determined that recent legislation would impact the overall spending. This change to the projections displays the efforts made to ensure accuracy of these projections. All possible changes are considered.
Although several factors are considered when making projections for health care...