LA Times: U.S. healthcare costs projected to continue to climb

Los Angeles Times ^ | September 9, 2010 | By Noam N. Levey

[Oldeconomybuyer]

Pushed by a dramatic increase in the number of Americans who will get insurance under the new healthcare law, total U.S. medical spending will continue to gallop upward, consuming nearly 20% of the economy by 2019, according to a new government estimate.

The continuing upward surge in total healthcare spending poses a challenge for Obama and others who championed the healthcare overhaul as a way to "bend the cost curve."

The new law … supports a major set of research and development for new models of healthcare delivery and healthcare payment," said Richard S. Foster, the chief actuary at the Centers for Medicare and Medicaid Services, whose office prepared the report.

But because many of these changes are relatively untested, Foster acknowledged that his team could not estimate their impact.

[Oldeconomybuyer]

[Le Chien Rouge]

Demographics are not being discussed in the health costs debate.

As baby boomers begin to rapidly enter their 60’s, health care cost will continue to skyrocket.

Most costs are skewed toward older folks and the baby boomers are one huge generation of people.

[sickoflibs]

RE :”Pushed by a dramatic increase in the number of Americans who will get insurance under the new healthcare law, total U.S. medical spending will continue to gallop upward, consuming nearly 20% of the economy by 2019, according to a new government estimate. “

If that is not enough we have :

Fed signals 'widespread' slowdown(acknowledging double dip?)

So did he push the car out of the ditch and over the cliff??

[DoughtyOne]

I think the ditch was a deep one. Most people would call it a canyon, but what’s a small difference of opinion among friends. ;^)