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By 2020, health care accounted for about 20% of GDP – Healthcare Economist

From the Cu Actuary’s CMS office as described Health today:

US health care spending rose 9.7 percent to $ 4.1 trillion by 2020, much faster than the 4.3 percent increase seen in 2019. The 2020 surge was due to a 36.0 percent increase in federal health care spending that occurred mainly in response to the epidemic of COVID-19. At the same time, domestic sales fell by 2.2 percent, and the share of expenditure on healthcare went up, to 19.7 percent. By 2020 the number of unprotected people declined, while at the same time there was a significant change in the types of screening.

Obviously, 2020 was an amazing year and it will be exciting to see how the numbers have changed in 2021 and 2022 as soon as they are available. The fact is that the costs of medical care vary greatly from those who pay for it. Although trade and foreign investment declined, Medicare and Medicaid funding rose sharply, particularly Medicaid. However, private insurance still makes a lot of money in the US health care system. His personal income was 1,150 billion; Medicare 830 billion; Medicaid 671 billion and out of pocket 389 billion.

More information can be found in this article Pano.

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