Study Predicts $4 Trillion Health Care Spending in Next Decade

WASHINGTON – A journal recently reported that U.S. spending on health care is projected to double to more than $4 trillion over the next decade.

According to the report published in Health Affairs journal, nearly 20 cents on the dollar will be spent on health care by 2016, while about 16 cents on the dollar was spent last year.

The study found that consumers often opt for newer, more expensive treatment options despite higher costs. The baby boomer generation, which is beginning to meet the age requirement for Medicare, will also contribute to the growth.

The effect on the average family and its out-of-pocket expenses, such as co-pays, is not clear as American health care gravitates more and more toward government funding. In the study, economists predict government funding will eventually replace employer-provided health care.

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