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Health Care Costs Hit All-Time High

And the government will soon be paying 50% of them

By Kevin Spak,  Newser Staff

Posted Feb 4, 2010 9:04 AM CST
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(Newser) – Health care spending hit a record 17.3% of GDP last year, up from 16.2% in 2008, according to new figures from the government’s nonpartisan Centers for Medicare and Medicaid Services. Today’s report also predicts that by next year, the government may be paying 50% or more of those costs—something that last year they predicted would happen in 2016, reports the Los Angeles Times.

Medicare and Medicaid spending each jumped more than 8% last year. The figures point to the necessity of reform, particularly because spending is increasing even as the number of Americans with insurance decreases, the CMS points out. “With higher unemployment, people lose their jobs; many of them lose their health care coverage in the process,” said the group’s chief actuary. “And under current law, they don't have much to fall back on.”

Health care costs in the US as spiraling out of control.
Health care costs in the US as spiraling out of control.   (Shutterstock)
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COMMENTS
Showing 3 of 57 comments
Doctor-Zaius
Feb 5, 2010 12:15 PM CST
hybrid, did you even bother to read the post above? Its a Gallop survey showing that Canadians and the British are much happier with thier healthcare than Americans. So not only is socialized medicine cheaper, more people find they like it better. You see, I don't have to lie to make my points.
Doctor-Zaius
Feb 5, 2010 12:11 PM CST
The point is that Bootsy is telliing the truth and you are lying hybrid. And that's all you need to know about the health-care debate.
hybrid
Feb 5, 2010 8:22 AM CST
The views of Americans on the quality of medical care in their country are not overly different -- 48% of Americans, 52% of Canadians, and 42% of Britons say they are satisfied. However, Americans are slightly more likely than Canadians or Britons to rate this issue at one extreme or the other
US • Health • Politics

 
health care costs • Medicare • Medicaid • health care reform

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