Healthcare Spending Essay

1744 Words Apr 12th, 2014 7 Pages
Health Care Spending
National health care spending within the United States is at an all-time high and continues to rise. The nation is driving into economic woes with health care at helm. This paper will provide an overview of current national health care expenditures. It will also provide opinions on if the spending is sufficient and where and why cuts should be made. To help understand costs and payment, a breakdown of how health care is financed is included. The second half of the paper will provide a forecast of the future economic needs of U.S. health care, why these needs must be addressed, and my opinion on how the finances will be covered.

Health Care Expenditures
Healthcare spending within the United States (U.S.) is
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In 2010 approximately 49.9 million Americans were uninsured. That calculates to 16.3% of the population. These individuals would be considered self-payers, meaning that they are responsible for paying for health care services and products out-of-pocket. The largest segment of the nation’s population had employer provided health benefits at 55.3%. The government funded 31% of health care coverage through the Medicare, Medicaid, and military). The government-funded healthcare can be further broken to reveal that 15.9% was spent on Medicaid and 14.5% of health care costs were spent on Medicare. The remaining 0.6% was spent on military health (HealthPac Online, 2013).

Forecast

The United States health care system will face dire straits in upcoming years. The United States is the third most populous country in the world with a population of 313,544,041. The 2010 U.S. census broke the population into four major age groups, under 18 years, 19 to 44 years, 45 to 64 years, and 65 years and over. The youngest age group, those under 18 years had a population of 74,181,467. The largest age group, 19 to 44 years, also known as the younger working age, had 112,806,642 U.S. residents. Those between 45 and 64 years,

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