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Story at a glance In 2021, the U.S. spent 17.8 percent of GDP on health care, nearly double the average of 9.6 percent for high-income countries, according to a new report from The Commonwealth Fund.
In 2023, the annual health insurance premiums cost $8,435 for single coverage and $23,964 for family coverage, averaging over a 70% increase in just the last 10 years. Impact on the Middle Class
An earlier study by AHRQ found that a significant persistence in the level of health care spending from year to year. Of the 1% of the population with the highest health care spending in 2002, 24.3% maintained their ranking in the top 1% in 2003. Of the 5% with the highest spending in 2002, 34% maintained that ranking in 2003.
[136] [137] Of each dollar spent on healthcare in the US, 31% goes to hospital care, 21% goes to physician/clinical services, 10% to pharmaceuticals, 4% to dental, 6% to nursing homes and 3% to home healthcare, 3% for other retail products, 3% for government public health activities, 7% to administrative costs, 7% to investment, and 6% to other ...
The largest health care expenditure is for California's Medi-Cal program, a health insurance program for low-income families in California. [31] [32] In addition, health care spending is focused on women's health services, treatment for addiction, and dentistry. [31]
Of the $4.5 trillion spent on U.S. health care in 2022, hospitals collected 30% of that total health spending, according to data from the Centers for Medicare & Medicaid Services. Doctors rank ...
In 2023, a 65-year-old single person may need $157,500 in after-tax savings to pay for retirement health care costs, according to a Fidelity Retiree Health Care Cost Estimate. The average 65-year ...
See also: Health spending as percent of gross domestic product (GDP) by country. The first table and bar chart lists member countries of the Organisation for Economic Co-operation and Development (OECD). It shows each country's total spending (public and private) on health per capita in PPP international dollars. The next table lists nearly all ...