Medical Economics August 15, 2022
Almost a third of spending is on insurance premiums and out-of-pocket payments
In 2020, health care spending accounted for 19.7% of the nation’s gross domestic product, up from 5% in 1960, according to a report from the Employee Benefits Research Institute. A total of $4.1 trillion was spent on health care in 2020, or $12,530 per person. In 2030, health care spending is projected to account for 19.6% of GDP, a total of $6.8 trillion.
A large percentage (31.2%) of total health care spending in 2020 was on health insurance premiums and out-of-pocket costs for employers and individuals. According to the report, employers paid $521.3 billion toward premiums, while workers paid $366 billion. Another $388.6 billion was spent on out-of-pocket...
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