Health Cost Relief Only Temporary, Says Report
The nation’s been enjoying a respite from rising health care costs, but government experts say don’t look for it to last.
Health care spending will grow faster than the economy for the foreseeable future, says a report Tuesday from Medicare’s nonpartisan economic analysts.
President Barack Obama’s health care overhaul will add $478 billion in spending from 2011-2021, the period covered by the projections. Some 30 million uninsured people will get coverage.
But the cost problem will not go away even if the Supreme Court overturns Obama’s law.
By 2021, health care spending will be growing roughly 2 percentage points faster than the overall economy, about the same rate as the last 30 years. And that means hard choices ahead for government programs and private insurance.
(Copyright 2012 by The Associated Press. All Rights Reserved.)