The Health Cost Narrative is Incomplete, Arnold Kling | EconLog | Library of Economics and Liberty

Stare at the following table, which gives population projections for the elderly in the United States, in millions.

Age Group 2007 2020 2030
65-74 19.3 32.3 38.8
75 + 18.6 22.5 33.3

Source: Census Bureau International Population Data Base.

Over the next twenty years, we are going to double the number of people aged 65-74, who get their health care paid for by Medicare. And we are going to nearly double the number of people aged 75 and up, where medical expenses get really high. The Medical Expenditure Panel Survey, for which the most recent data available are from 2007, shows average spending in the 75+ age group of $10,500 per person.

scary.

check me out at posterous here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: