U.S. Health Costs May Double by 2016
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WASHINGTON — America’s health care costs may almost double over the next 10 years to $4.1 trillion annually, or 20 cents of every dollar spent, according to a study by federal economists and actuaries.
The estimate is based on a 6.9% average annual growth rate in health care spending. The study, conducted by the U.S. Centers for Medicare and Medicaid, was published yesterday in the Web edition of the journal Health Affairs.
Federal health programs such as Medicare, which covers seniors aged 65 and older, will grow at a faster rate than private spending, the study’s authors said at a news conference Tuesday in Washington.
