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. https://agingstats.gov/docs/PastReports/2008/OA2008.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 2006, health care costs for Medicare enrollees age 65 and older were: 25% for inpatient hospital care 16% for prescription drugs 35% for physician/outpatient services 13% for long-term care facilities  
  • Growth in hospital spending is expected to increase from 7% (2006) to 7.5% in 2007–partially because of higher Medicaid payment rates.  
  • In 2004, hospital spending, which is 30% of national heath expenditures, increased by 8.6%.  
  • Nursing home spending increased 4.8% in 2007 to reach $131.3 billion.  
  • Prescription drug spending growth accelerated in 2006 to 8.5%, partly as a result of Medicare Part D’s impact.