Silver Book Fact

The United States spends more than $26 billion annually on additional health care costs for people over 65 who lose their ability to live independently over the course of a single year.

Categories

  • Cost of Disease
  • Economic Burden

Related Facts

  • People with Chronic Illnesses and Activity Limitations Have More Physician Visits  
  • 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  
  • The national average annual cost for a private one-bedroom unit in an assisted living facility is $32,294.40 ($88.48/day). This is a 6.7% increase over 2005 rates. Note–these rates exclude one-time…  
  • Over 2/5 of Americans age 65 and older who had health care expenses paid at least $1,000 out-of-pocket in 2003.  
  • By 2017, U.S. health care spending is expected to grow to more than $4.3 trillion and comprise 19.5% of the GDP.