Health Care Spending
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Health Care Spending Paper
Rhonda Ellis-Thomas
University of Phoenix
HCS/440
Kevin Branyan
November 29, 2010
Health Care Spending Paper
Introduction
No subject has gotten more recognition in the health care clash than cost. The question that needs to be answered is if the nation is spending too much or not enough. The writer believes that the area under discussion is easier to deliberate than describe. The purpose of this paper is to provide the level of current national health care expenditures, explain whether or not the spending is too much or not enough, and explain where the nation should add or cut and why and how the public’s health care needs are paid for.
National Health Care Expenditure
The predictability of health care cost has recognized for years by citizens, businesses, and government agencies such as the Centers for Medicare and Medicaid Services (CMS), the Bureau of Labor Statistics, U.S. Census Bureau, and the National Center for Health Statistics, to name a few. The level of health care spending is little to nothing among the citizens and businesses. The number of uninsured is enormous and most of the citizens that are insured are covered by Medicare and Medicaid. The cost of health care is ridiculously high and rising and has for decades.
According to the Centers for Medicare and Medicaid Services (CMS), the U.S. had been projected to spend over $2.5 trillion on health care in 2009, or $8,160 per U.S. resident.
Health spending in 2009 had been projected to account for 17.6% of GDP. In 1970, U.S. health care spending had been about $75 billion, or $356 per resident, and accounted for 7.2% of GDP. Health care spending has risen about 2.4 percentage points faster than GDP since 1970. CMS projects that by 2018, health care spending will be over $4.3 trillion or $13,100 per resident, and account for 20.3% of GDP. (The Henry J. Kaiser Family Foundation, 2010)
Is Spending Too Much or Not...
Rhonda Ellis-Thomas
University of Phoenix
HCS/440
Kevin Branyan
November 29, 2010
Health Care Spending Paper
Introduction
No subject has gotten more recognition in the health care clash than cost. The question that needs to be answered is if the nation is spending too much or not enough. The writer believes that the area under discussion is easier to deliberate than describe. The purpose of this paper is to provide the level of current national health care expenditures, explain whether or not the spending is too much or not enough, and explain where the nation should add or cut and why and how the public’s health care needs are paid for.
National Health Care Expenditure
The predictability of health care cost has recognized for years by citizens, businesses, and government agencies such as the Centers for Medicare and Medicaid Services (CMS), the Bureau of Labor Statistics, U.S. Census Bureau, and the National Center for Health Statistics, to name a few. The level of health care spending is little to nothing among the citizens and businesses. The number of uninsured is enormous and most of the citizens that are insured are covered by Medicare and Medicaid. The cost of health care is ridiculously high and rising and has for decades.
According to the Centers for Medicare and Medicaid Services (CMS), the U.S. had been projected to spend over $2.5 trillion on health care in 2009, or $8,160 per U.S. resident.
Health spending in 2009 had been projected to account for 17.6% of GDP. In 1970, U.S. health care spending had been about $75 billion, or $356 per resident, and accounted for 7.2% of GDP. Health care spending has risen about 2.4 percentage points faster than GDP since 1970. CMS projects that by 2018, health care spending will be over $4.3 trillion or $13,100 per resident, and account for 20.3% of GDP. (The Henry J. Kaiser Family Foundation, 2010)
Is Spending Too Much or Not...