Health Care Reform
- Posted Thursday, October 15th, 2009:
Over the past several years, the cost of health care in the United States has become an increasingly important issue for most consumers. As the economy has slumped and the size of many paychecks has decreased, health care costs continue to rise. Consider this data from the Centers for Medicare and Medicaid Services (CMS):
*In 2008, U.S. health care spending reached $2.4 trillion, representing a 9 percent increase from 2007.
*In 2009, health care spending is expected to increase 5.5 percent.
*Health care represented 16.6 percent of the gross domestic product (GDP) in 2008, an increase from 16.2 percent in 2007.
*In 2009, health care spending is projected to increase to 17.6 of the GPD.
*By 2018, health care spending is expected to reach $4.4 trillion, representing 20.3 percent of the GDP.
Given this data, it's no surprise health care reform is one of the most pressing issues for the Obama administration and the U.S. Congress. The executive and legislative branches have both committed to major changes to America's health care system. What form those changes will take and how they will be implemented remain to be seen.
As reform progresses in the months ahead, staying up-to-date with health care information will be as important as ever.
Article written by Gary D. Rippentrop, CAE and published in the ACA Collector magazine, August 2009.
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424 East Front Street / PO Box 389, Traverse City, MI 49685
Phone: (231) 947-7260 Fax: (231) 947-4320