mark warner: state of health care in 2009

8/14/2019 Mark Warner: State of Health Care in 2009

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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

mark warner: state of health care in 2009

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