Senior Health Care Spending
At almost 17 percent of gross domestic product (GDP), the United States spends more of its income on health care than any other country. Some wonder how high health care spending can go. A lot higher, apparently.
A new NCPA study by Andrew Rettenmaier and his Texas A&M colleagues finds that:
- Health care today makes up about two-of-every-five dollars of seniors’ total consumption (43 percent).
- In just 17 years (by 2024), health care will equal half of seniors’ total consumption.
- For seniors age 75 and older health care already makes up more than half of all they consume.
