Last week, the Congressional Budget Office released its 2014 long-term budget outlook, which provides insight into expected U.S. spending during the next 25 years. Overall federal spending is expected to increase to 26 percent of GDP by 2039, up from 21 percent in 2013.
The extensive report also includes information on various aspects of healthcare spending, including the distribution of healthcare expenditures in 2012, Medicare financing, excess cost growth and more. The following five stories posted during the past week each tackle different aspects of the report's healthcare spending section.
1. CBO Releases Long-Term Budget Outlook: 5 Things to Know About Federal Healthcare Program Spending
Federal spending on government healthcare programs — including Medicare, Medicaid, the Children's Health Insurance Program and subsidies for health insurance purchased through the Patient Protection and Affordable Care Act exchanges — is expected to increase from just below 5 percent of gross domestic product currently to 8 percent of GDP in 2039.
2. 5 Things to Know About Medicare From the CBO
This year, net Medicare spending is expected to amount to 3 percent of gross domestic product, a percentage that the CBO projects will rise to 4.6 percent by 2039.
3. Excess Cost Growth in Healthcare Spending: 4 Things to Know From the CBO
When analyzing healthcare spending, the CBO calculates spending growth per person relative to the growth of potential gross domestic product per person, discounting the effects of demographic changes (such as age distribution) on healthcare spending. The resulting ratio is called excess cost growth.
4. The Distribution of Healthcare Spending in 2012: 6 Key Statistics
Total healthcare spending in the U.S. totaled $2.6 trillion in 2012. Here's a breakdown of where that money was spent, according to the CBO.
5. The History of Healthcare Spending Growth: 3 Key Takeaways
Total U.S. healthcare spending — including both private and public expenditures — has notably increased as a share of gross domestic product during the last several decades, according to the CBO. Total national spending on healthcare services and supplies went up from 4.6 percent of GDP in calendar year 1960 to 9.5 percent in 1985 and 16.2 percent in 2012.
More Articles on Healthcare Spending:
Medicare Beneficiaries' Out-of-Pocket Spending: 6 Things to Know
Healthcare M&A Spending Skyrockets 152% in Q2
Medicare Data Uncovers Hospitalist Billing Trends: 7 Things to Know