3/10/2024 0 Comments Average medicare bond costSpending on the major federal health programs – Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and the health insurance exchange subsidies created under the Affordable Care Act – has increased from 0.8 percent of the economy in 1970 to 3.1 percent by 2000 and 5.4 percent in 2017 (total federal resources dedicated to health care, which include tax benefits as well, total about 8 percent of the economy). The Rise of Federal Health Spendingįederal health spending has grown significantly over the past several decades and is projected to grow in the future. It is the first in a series called the American Health Care initiative, a joint collaboration of the Committee for a Responsible Federal Budget and the Concerned Actuaries Group. This paper will provide background on major health care programs in the federal budget. Given how central health care spending is to the federal budget, it is important to understand how that spending is distributed and how it will grow. Without a course correction, the result will be program insolvency, crowding out of important public priorities, and a growing federal debt. Over the long term, the rising cost of federal health care spending is clearly unsustainable.
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