Last year despite the recession, national health care spending hit $2.5 trillion, a 5.7 percent jump from 2008, according to projections by the Centers for Medicare and Medicaid Services (CMS). Increased health spending and decreased GDP combined to increase health care's share of the economy by 1.1 percent – the biggest one-year jump since the government began tracking the numbers in 1960. According to CMS economists writing in the journal, Health Affairs. Health expenditures are estimated to have consumed 17.3 percent of GDP last year. As growing unemployment caused forced more people to rely on Medicaid, public spending grew to 8.7 percent, or $1.2 trillion. At the same time private payers increases totaling $1.3 trillion, a 3 percent increase. Health costs now equal 17 percent of the nation’s economy. READ THE HEALTH AFFAIRS ARTICLE:
Families USA held it’s Annual Health Action 2010 Conference in Washington D.C. on January 28-30.
The Congressional Budget Office (CBO) recently released The Budget and Economic Outlook: Fiscal Years 2010 to 2020 (Report).
“We have come further than we have ever come before. While the House and Senate bills differ on specific points, they are built on the same framework and common elements--eliminating health status underwriting and insurance abuses, creating functioning insurance markets, offering affordability credits to those who cannot afford health insurance, requiring that all Americans act responsibly and purchase health insurance if they are able to do so, expanding Medicaid to cover all poor Americans, reforming Medicare payment to encourage quality and control costs, strengthening the primary care workforce, and encouraging prevention and wellness.