U.S. health spending could double by 2017

BETHESDA, Md. – A new government analysis projects that U.S. health care spending will nearly double by 2017 from 2007’s projected level, reaching $4.3 trillion and consuming 19.5 percent of the nation’s gross domestic product.
The analysis, published online by the journal Health Affairs, follows a January report from the government that health spending in 2006 surpassed $2.1 trillion for the first time, accounting for 16 percent of GDP.
The report estimates 2007 health care spending at $2.2 trillion and predicts an average of 6.7 percent annual growth through 2017, outpacing economic growth by about 1.9 percent. It also shows a shift toward public-sector spending as baby boomers enter Medicare. By 2017, Medicare spending is expected to be $884 billion, or just over one-fifth of U.S. health spending. •