Silver Book Fact

Older Americans spent 12.4% of their total expenditures on health, more than twice the proportion spent by all consumers (5.7%).

Administration on Aging. A Profile of Older Americans: 2007. Washington, DC: US Department of Health and Human Services; 2008. http://www.aoa.acl.gov/Aging_Statistics/Profile/2007/docs/2007profile.pdf

Reference

Title
A Profile of Older Americans: 2007
Publisher
US Department of Health and Human Services
Publication Date
2008
Authors
Administration on Aging
URL
Read Full Resource

Categories

  • Cost of Disease
  • Economic Burden

Related Facts

  • 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.  
  • About 95% of health care spending for older Americans is for chronic diseases.  
  • In 2005, 133 million people had at least one chronic condition. The number will increase to 157 million by 2020.  
  • The national median rate for a semi-private nursing home room in 2011 was $193/day.  
  • Average annual prescription drug costs and sources of payment among noninstitutionalized Medicare enrollees age 65 and over, 1992-2004