Ageing population, insurance seen raising US health spending
Add BT as a preferred sourceNew York
SPENDING on healthcare will take up an increasing proportion of the US economy over the next decade as the population ages and more people gain insurance coverage under Obamacare, a government report said.
Payments for hospitals, doctors, drugs and insurance will rise by about 5.8 per cent a year through 2024, 1.1 percentage points faster than overall economic growth, actuaries at the Centers for Medicare and Medicaid Services said on Tuesday in an annual study. Health spending will account for 19.6 per cent of gross domestic product in 2024, up from 17.7 per cent last year.
TRENDING NOW
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
