United States High Healthcare Spending Essay Paper
Do you feel the United States needs to control the rising costs of health care? Please provide evidence that supports your point of view.
There is a broad consensus among experts and policymakers that the United States needs to control the rising costs of healthcare. The US spends more on healthcare per capita than any other developed country, yet its health outcomes are worse than many other developed countries. The high cost of healthcare in the US is a significant burden for individuals, families, and the economy as a whole.
Here are some pieces of evidence that support the need for controlling the rising costs of healthcare in the US:
High Healthcare Spending: The US spends more on healthcare per capita than any other developed country, according to the Organization for Economic Cooperation and Development (OECD). In 2019, the US spent $11,072 per person on healthcare, while the average spending among OECD countries was $3,992 per person.
Lack of Health Insurance: Despite the high spending, many Americans lack health insurance. According to the US Census Bureau, in 2019, 8.6% of the US population, or 28 million people, did not have health insurance. Lack of health insurance can lead to financial hardship for individuals and families and can also result in delayed or forgone healthcare.
High Drug Prices: The US has some of the highest drug prices in the world. According to a report by the House of Representatives Ways and Means Committee, US drug prices are on average 3.7 times higher than prices in 11 other high-income countries.
Impact on the Economy: The high cost of healthcare in the US is also a significant burden on the economy. A report by the Centers for Medicare and Medicaid Services (CMS) projected that national health expenditures would grow at an average annual rate of 5.5% from 2018 to 2027, reaching $6.0 trillion by 2027, or nearly 20% of GDP.
In conclusion, there is strong evidence that the United States needs to control the rising costs of healthcare. High healthcare spending, lack of health insurance, high drug prices, and the impact on the economy are just a few reasons why controlling healthcare costs is a pressing issue for policymakers and the American public. United States High Healthcare Spending Essay Paper
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