Blogs
- Open Enrollment 2023 FAQ
- Get Ready! Medicare Open Enrollment Begins October 15th
- Ten Shocking Medicare Stats
- Minimize Home Care Costs with Medicare
- 4 Ways to Make Your Home Safer for Loved Ones with Alzheimer’s Disease
- 7 Million Californians to Benefit from State-Run Retirement Plan
- 5 Ways to Get the Most from Medicare
- How to Spot Medicare Open Enrollment Scams
- 200,000 Doctors are Turning Away New Medicare Patients
- Doctors Warn Patients About Upcoming Medicare Changes
- The Mystery of Medicare
- Medicare Cost Plans vs. Medicare Advantage
- Shopping for Medicare Last Minute
- 5 Reasons to Switch Your Medicare Advantage Plan
- Medicare Help: Get Help Choosing a Hospital
- What do Medicare drug plans cover?
- How Medicare Online Works for Medicare Beneficiaries
- Medicare Part A Costs
- When to buy Medigap Insurance
- The Latest in the Battle for Prescription Drug Coverage
- Don’t Miss These Medicare Deadlines
- 4 Tips for Protecting Your Retirement Savings
- Medicare Open Enrollment Starts Soon
- The Ultimate Retirement Checklist
- Health Care to Cost $10K Per Person
- 8 Things Seniors Should Know About Hospice Care
- Do seniors know enough about their Medicare choices?
- Retirement Plans You Might Regret
- Medicare Penalized for Being Too Careful
- Paul Ryan’s Plan to Make Medicare a Voucher Program
- Thrown Away: $3 Billion in Cancer Drug Spending Wasted
- How Seniors are Winning with Home Care
- Medicare Facts - Are Injections Better Than Eye Drops for Addressing Cataracts
- 3 Things You Don’t Know About Medicare But Should
- Americans Want Medicare to Cover Obesity Treatments
- Best Places to Retire with Affordable Healthcare
- Medicare to Test New Drug Pricing for Doctors and Hospitals
- Retirement – 5 Websites Made for Retirees
- Medicare Home Health Agencies
- Medicare Part B Costs And Coverage 2016
- Medicare Advantage is Changing in 2016 – Are you Ready?
- Choosing a Home Health Agency
- Medicare Part D Costs and Coverage 2016
- DIY Guide to Medicare Shopping
- Should Medicare Cover Genetic Sequencing?
- CMS Bars Cigna from Enrolling New Medicare Members
- Is Medicare for All an Achievable Goal?
- Trump – Medicare Should Negotiate Drug Prices
- A Guide to Medicare Part A
- 5 Things You Didnt Know About Medicare
- Medicare News: A Look Back at Medicare Changes in 2015
- Hospital Prices Vary Across U.S.
- Five Ways You’re Wasting Your Retirement Money
- Government Targeting Remaining Uninsured
- Retirement Benefits Set to Change in 2015
- Medicare Costs: These 5 Screenings will Help You Keep Medicare Costs Down
- Medicare Spending: New way to explore Medicare prescription-drug spending
- Infections & Mistakes - Medicare Penalizes South Florida Hospitals
- Three Changes Coming to Medicare in 2016
- Quit Smoking with Help From Medicare
- Get Your Free Flu Shot Before It is Too Late
- Antibiotic Use: When Not to Take Antibiotics
- Medicare Premium Costs Are Not Going to Spike For Now
- A Migraine even without throbbing pain is a migraine
- Deciding on your best options according to your circumstances and needs
- Medicare Advantage Plans (Under part C)
- Medicare Prescription Drug plans (Part D)
- The things that Medicare doesn’t take care of
- Nurture your body by drinking plenty of water
- Avoid paying more for prescription drug coverage
- Dear Coffee lovers, Caffeine may actually be beneficial for you
- How does one select a primary care provider for oneself or a loved one?
- Know how traveling affects your Medicare plans
- Have Medicare costs been worrying you? The good news is, you may qualify for financial hel
- What should be done if I want to make a transition from Health Marketplace to Medicare
- The drawbacks of Medicare Advantage
- Can Medicare Advantage provide quality, savings, satisfaction and access- all together?
- Refining Medicare Advantage
- What are my expectations from a Medicare program?
- Medicare Additional/Supplemental Insurance Plans
- Working towards better American Health care- Medicare Advantage
- Managing out-of-pocket costs and paying for Medicare
- The basics of medicare and how it works
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Health Care to Cost $10K Per Person
In the next decade more people will be using and needing healthcare causing health care costs to increase to $10,000 per person, and $16,000 per person annually by 2025.
While the Affordable Healthcare Act has made it so that more people are insured than ever before, it hasn’t reduced the cost of health care.
Rise in Health Care Spending
For the first time, spending on medical costs per person is set to exceed $10,000, according to a recently published analysis by the journal Health Affairs. This number reflects the total amount contributed by health care systems, patients, the government and private health insurance.
Projections show the total will increase to roughly $16,000 by the year 2025. The increase is partially due to aging baby boomers. As these Americans age into Medicare, costs will increase. By 2025, one in every five Americans will have Medicare coverage, with costs $18,000 per enrollee per year. This group is more likely to need and use medical care and medicines contributing to the spending.
Economic Recovery
Health care spending will also increase due to economic recovery. As the economy improves, Americans have more disposable income, more to spend on health care, medicine and health related services. Out-of-pocket costs will also increase. Patients are expected to pay $350.1 billion this year. That number will rise to $555.8 billion during the next ten years. Another consequence of Obamacare is the brunt of medical costs shifting from employer to employees.
Failing Laws
Reports like this one fuel dissenters who accuse the law of not working to decrease health care spending. While coverage expansion was a major goal of the Affordable Care Act, the law puts in place mechanisms intended to slow the growth of health care spending and make the health care system work more efficiently.
President Barack Obama addressed the issue in an article in the Journal of the American Medical Association, stating that “too many American still strain to pay for their physician visits and prescriptions, cover their deductibles or pay their monthly insurance bills.”
How do you feel about the increase in health care spending? Do you think Obamacare is working? Tweet us or share your opinions on our Facebook page.