Health Spending Grew Modestly, New Analysis Finds

NYT ^ | 12/6/2019 | Abby Goodnough and Margot Sanger-Katz

[spintreebob]

The burdensome costs of medical care, prescription drugs and health insurance have become dominant issues in the 2020 presidential campaign. But a new report from the Department of Health and Human Services shows the nation remains in a period of relatively slow growth in health spending.

Health spending in the United States rose by 4.6 percent to $3.6 trillion in 2018 — accounting for 17.7 percent of the economy — compared to a growth rate of 4.2 percent in 2017. Federal officials said the slight acceleration was largely the result of reinstating a tax on health insurers that the Affordable Care Act imposed but Congress had suspended for a year in 2017. Faster growth in medical prices and prescription drug spending were also factors, they said, but comparatively minor.

[spintreebob]

Surprise. Fake news in the NYT.

Add up Fed, State & Local Government Health Cost/Spending, Private Health Insurance, Private Out of Pocket cost, Private charity to health and you get 5 Trillion easily. Probably much more than 5 Trillion. Not the 3.6 Trillion they quote.

It could be more, especially if you count the cost of over-the-counter meds or broaden the definition to include dietary supplements, new age therapies, Faith healers, etc.

The NYT does not count all government health spending as the cost of health. That is why it is Fake.

[Paul R.]

Correct.

Moreover, even if one accepts the given figures, health spending growth is still significantly exceeding growth in the rest of GDP. This cannot be sustained.