Silver Book Fact

Fact image

Average annual prescription drug costs and sources of payment among noninstitutionalized Medicare enrollees age 65 and over, 1992-2004

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
Read Full Resource

Categories

  • Cost of Disease
  • Economic Burden

Related Facts

  • It is projected that by 2020 the U.S. will spend $685 billion a year in direct medical costs for persons with chronic diseases, and by 2050–$906 billion.  
  • About 80% of the senior population has 1 or more chronic conditions. Because of these conditions, 25% are limited in their ability to perform activities of daily living.  
  • The highest average annual cost for a private room (single occupancy) in a Medicare certified nursing home is in Alaska at a cost of $191,140. The next highest cost is…  
  • The costs of productivity loss because of a chronic disease were 4 times as great as the direct medical costs of a chronic condition.  
  • In 2004, nursing home and home health care cost the nation $158.4 billion.