Friday, February 5, 2010

Government is taking over health care

Sometime next year government will overtake all other payers and fund more than half of all US health care, according to actuaries at CMS. Last year health care consumed 17.3% of our economy, the largest one year climb since 1960. We spent $282 million per hour last year on health care. Just government’s share of US health care spending last year was equal to all health care spending – government plus private payers -- in Britain and Italy. How long can we keep this up?
Ellen Andrews