Dan Munro wrote that annual U.S. healthcare spending will hit $3.8 trillion this year (~21% of GDP).
11/20/2015: Spending actually has stayed mostly flat at about $3 trillion.
There’s good info in his Forbes article and the referenced Deloitte report, but it should not be taken politically one way or another. Centers for Medicare & Medicaid Services (CMS) data shows a slow bending of the cost curve, where the increases in health care expenditures are slowing slightly, the increase is slower than the economy, and it’s slightly slower than in previous years. Still, many of us hope to see costs decline outright, and by a lot.
To me, the real value is recognizing that there are hidden costs not captured in the official 2012 estimate of $2.8 trillion/year. Read More …