Silver Book Fact

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.

Paez, Kathryn Anne, Lan Zhao and Wenke Hwang. Rising Out-Of-Pocket Spending For Chronic Conditions: A Ten-Year Trend. Health Affairs. January 2009; 28(1): 15-25. http://content.healthaffairs.org/cgi/content/abstract/28/1/15

Reference

Title
Rising Out-Of-Pocket Spending For Chronic Conditions: A Ten-Year Trend
Publication
Health Affairs
Publication Date
January 2009
Authors
Paez, Kathryn Anne, Lan Zhao and Wenke Hwang
Volume & Issue
Volume 28, Issue 1
Pages
15-25
URL
Read Full Resource

Categories

  • Cost of Disease
  • Economic Burden

Related Facts

  • In 2004, hospital spending, which is 30% of national heath expenditures, increased by 8.6%.  
  • The average prescription drug costs for older Americans in 2004 were $2,107 per person.  
  • The national average annual cost for a private room (single occupant) in a Medicare certified nursing home is $70,912 ($194.28/day). This is a 2.2% increase from 2005 rates.  
  • Average out-of-pocket health care spending tends to increase with age. Medicare beneficiaries age 65-74 spent $2,920 out-of-pocket in 2003, while beneficiaries age 85 and older spent $4,615.  
  • In 2005, 133 million people had at least one chronic condition. The number will increase to 157 million by 2020.