Silver Book Fact

Non-institutionalized Medicare beneficiaries age 65 and older spent an average of $3,455 (22% of their income) on healthcare in 2003.

Caplan, Craig, and Normandy Brangan. Out-of-Pocket Spending on Health Care by Medicare Beneficiaries Age 65 and Older in 2003. Washington, DC: AARP; September 2004. http://www.aarp.org/research/medicare/outofpocket/aresearch-import-912-DD101.html

Reference

Title
Out-of-Pocket Spending on Health Care by Medicare Beneficiaries Age 65 and Older in 2003
Publication
Data Digest: AARP Public Policy Institute
Publisher
AARP
Publication Date
September 2004
Authors
Caplan, Craig, and Normandy Brangan
URL
Read Full Resource

Categories

  • Cost of Disease
  • Economic Burden

Related Facts

  • In 2003, Medicare beneficiaries age 65-74 had the lowest out-of-pocket expenses as a percent of income (18%), while beneficiaries age 85 and older had the highest (30%).  
  • People with Chronic Conditions Accounted for 85 Percent of All Health Care Spending in 2004  
  • In 2003, the U.S. spent $1.7 trillion on health, an average of $5,671 per person.  
  • 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, national health expenditures were approximately $1.88 trillion.