Silver Book Fact

Fact image

Out-of-Pocket Spending on Prescription Drugs by Medicare beneficiaries, by Presence of Prescription Drug Coverage, 2003

Caplan C, Brangan N. Out-of-Pocket Spending on Health Care by Medicare Beneficiaries Age 65 and Older in 2003. Washington, DC: AARP; 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
2004
Authors
Caplan C, Brangan N
URL
Read Full Resource

Categories

  • Cost of Disease
  • Economic Burden

Related Facts

  • The lowest annual cost for a one-bedroom in an assisted living facility is in North Dakota ($20,714 excluding community fees) and Arkansas ($20,937 excluding community fees).  
  • Lost wages for family caregivers
    The total impact of caregiving on lost wages for family caregivers age 50 and older is $283,716 for men, and $323,880 for men.  
  • In 2003, 45% of beneficiaries’ total out-of-pocket health care expenses were for premiums for Medicare Part B, private Medicare plans (primarily HMOs) and private supplemental insurace.  
  • The decade-long projection detailed here expects that nearly $0.20 of every $1.00 spent will be devoted to health by 2016.  
  • The health share of the GDP is expected to increase to 16.3% in 2007.