US Healthcare Spending Record Highest Growth in Eight Years

December 15th, 2016   admin   Health Tags:

The US healthcare spending surged at a significant rate across the whole country in 2015, as massive number people received medical care and got themselves insured. This is expected to be taken as a key point against president-elect Donald Trump’s argument of scraping the affordable care Act. In 2015, more than USD 3 trillion was spent on healthcare in the US, reflecting nearly 6 percent increase over 2014, registering the highest growth in over eight years.

The increase was majorly linked with the 20 million new additions to the list of the total number of people medically insured thanks to Obamacare, which is also known as affordable care act.  More than 10 million people registered for Medicaid a government initiative for low-income groups and over 9 million purchased private health insurance policies. In 2015, Americans used more medical and other hospital services, which led to higher spending. Expenditure on prescription drugs was higher in 2015 compared to 2014.

As transition formalities to Trump presidency are at its final stages, new figures are being disclosed. Trump looks keen on keeping his words, which he promised during his campaigns, although repealing Obamacare entirely looks highly doubtful large altercation to the act are in prospect.  The Republicans in Congress for long have opposed the act and have consistently called for its dissolution, believing the act was unaffordable for both consumers and government.

The changes lawmakers and Trumps will suggest is uncertain as yet and how those altercations will affect the beneficiaries of the current law. Tom Price of Georgia, a strong nonbeliever of the law has been recently been appointed as a key member of the Trumps healthcare department team.

The great global recession had its negative impact on the growth of country’s healthcare expenditure and started picking up in 2014. If the current healthcare law in revoked it likely to influence the healthcare expenditure. In addition, the new that expected to be brought in the by the republicans will be aimed at bringing down the government’s expenditure on healthcare. This might see a drop in public expenditure on healthcare.

Summary: The implications of Trump’s new Healthcare policies on the Overall US Healthcare Expenditure

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