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-
Source: CongressionalBudgetOffice
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40%HEALTH CARE COSTS AS PERCENTAGE OF GDP
e can t expect tocompete when healthcare accounts for 1/510%
20%30%40%
of our economy.0%10%
1977 1987 1997 2007 2009 2030 2040
$4
TOTAL U.S. DO LLARS SPENT ON HEALTH CA RE(in trillions)
Dollars spent on health careincreased from
$$2
$27.5 BILLION in 1960to $2.2 TRILLION in 2007.This equals $7,290/person,
Source:CouncilofEconomicAdvisors:TheEconomicCaseforHealthReform,2009;CenterforMedicareandMedicaidServices,HealthExpenditureAccounts,20091960 1970 1980 1990 2000 2007
near y w ce e average oother developed nations.
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IN 2007$2.2 TRILLION
The United Stateshe United Statesspends twice asmuch on health$1.1 TRILLION much on healthcare as on food
U S HEALTH CARES FOOD*Excludesalcoholicbeveragesandtobaccoproducts
Source: BureauofEconomicAnalysis;NationalBureauofStatisticsofChina,MGIanalysis,CouncilofEconomicAdvisors:TheEconomicCaseforHealthReform,2009
U.S. HEALTH CARE.S. FOOD
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U.S. EMPLOYERS AND WORKERS SPEND SIGNIFICANTLY-
$1.00$1 .00$1 .20
$0.630.80
$
$0 .40$0 .60
$0.15
$ -$0 .20
$U.S. G5Group BICGroup
Source:TheBusinessRoundtableHealthCareValueComparabilityStudy
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Rising healthcare costs affect thel t b d t bl i tong-term budget problem in two ways.
. e ncreas ng per-person cost o prov ng ea t care
through Medicare and Medicaid increases federal.
.increase a larger share of the nations income is exemptfrom taxation, meanin less revenue.
Source:TheBusinessRoundtableHealthCareValueComparabilityStudy
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Insurance premiums inVir inia increased
nearly THREE ANDHALF TIMES FASTERthan wa es. %
100%Virginia Premium Increases vs. Wage Increases
Average annual family 40%60%80%
$6,684 in 2000 to$12,687 in 2009. 0%20%40%
If we do nothing,premiums will average
2000 2009
Source:FamiliesUSA,MedicalExpenditurePanelSurvey(MEPS)data,DPC
$25,000 in 2016.
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HOUSEHOLD DOLLAR IN 2016
HEALTH CARE COSTSHEALTH CARE COSTS
IF THIS TREND CONTINUES:40%
By 2016, 40 cents on everydollar a typical Virginia
OTHER SPENDINGOTHER SPENDING
family earns will beconsumed by Health Care
.
Source:FamiliesUSA,MedicalExpenditurePanelSurvey(MEPS)data,DPC
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Exploding federal deficitod g Doubling of healthcare remium
costs for American families
American companies will be lesscompetitive in a lobal market lace