Silver Book Fact

Around 13% of all household expenditures in households headed by people age 65 and older were on healthcare expenses, compared to 7% in households headed by people age 55-64.

Federal Interagency Forum on Aging-Related Statistics. Older Americans 2008: Key Indicators of Well-Being. Washington, D.C.: U.S. Government Printing Office; 2008. http://agingstats.gov/agingstatsdotnet/Main_Site/Data/2008_Documents/OA_2008.pdf

Reference

Title
Older Americans 2008: Key Indicators of Well-Being
Publisher
U.S. Government Printing Office
Publication Date
2008
Authors
Federal Interagency Forum on Aging-Related Statistics
URL
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Categories

  • Cost of Disease
  • Economic Burden

Related Facts

  • In 2005, a person with 3 or more chronic conditions who was 65 and older and insured through Medicare paid, on average, $2,588 in out-of-pocket medical expenses.  
  • The health share of the GDP is expected to increase to 16.3% in 2007.  
  • More than 42% of Americans aged 65 and older reported a functional limitation in 2005.  
  • Spending on physician and clinical services is expected to reach $508.5 billion in 2008.  
  • From 2008 to 2016, combined state and federal Medicaid spending is projected to grow an average of 8.1% per year and to represent 16.4% of national health expenditures by 2016.