Silver Book Fact

Absent policy change, the Congressional Budget Office estimates that Medicare spending will grow at an average of 7% each year from 2010 to 2018, rising to $879 billion annually and 4% of GDP. The rate of growth of Medicare spending over the long term is predicted to exceed the rate of growth in federal revenues and the overall economy.

Thorpe K, Ogden L, Galactionova K. Chronic Conditions Account for Rise in Medicare Spending From 1987 to 2006. Health Aff. 2010; 29(4). http://content.healthaffairs.org/cgi/content/full/hlthaff.2009.0474v1

Reference

Title
Chronic Conditions Account for Rise in Medicare Spending From 1987 to 2006
Publication
Health Aff
Publication Date
2010
Authors
Thorpe K, Ogden L, Galactionova K
Volume & Issue
Volume 29, Issue 4
URL
Read Full Resource

Categories

  • Cost of Disease
  • Future Economic Burden

Related Facts

  • 1/3 of older people without a spouse or child received no care in 1999, compared to 1/4 of older people with a spouse and a child (or children).  
  • Older Adults are More Likely to Have Multiple Chronic Conditions  
  • The most common chronic diseases are costing the U.S. more than $1 trillion per year– which is expected to increase to $6 trillion by the middle of the century.  
  • People with Multiple Chronic Illnesses Are More Likely to Have Activity Limitations  
  • In 2004, approximately 8% of those 65 and older incurred no prescription drug costs, but close to 24% incurred $2,500 or more that year.