The Sustainability of Health Spending Growth
AbstractWe evaluate the long–run sustainability of health spending growth. Under the criterion that non–health consumption does not fall, 1 percent excess cost growth appears to be an upper bound for the economy as a whole when the projection horizon extends over the century, although some groups would experience declines in non–health consumption. More generally, the increase in health spending as a share of income may lead to a significant expansion of public sector financing, as has been the case historically. Extrapolation of historical trends also suggests that higher health spending will lead to insurance contracts with lower out–of–pocket payment shares, putting further upward pressure on health care expenditures.
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Bibliographic InfoArticle provided by National Tax Association in its journal National Tax Journal.
Volume (Year): 58 (2005)
Issue (Month): 3 (September)
Other versions of this item:
- Glenn Follette & Louise Sheiner, 2005. "The sustainability of health spending growth," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2005-60, Board of Governors of the Federal Reserve System (U.S.).
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