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A gap of 5% GDP represents $1 trillion, about $3,000 per person relative to the next most expensive country. In other words, the U.S. would have to cut healthcare costs by roughly one-third ($1 trillion or $3,000 per person on average) to be competitive with the next most expensive country.
Map of total public and private health expenditure per person (see year above map). [1] This article includes 2 lists of countries of the world and their total expenditure on health per capita. Total expenditure includes both public and private expenditures. See also: Health spending as percent of gross domestic product (GDP) by country.
In 2004, employer-sponsored health insurance premiums grew 11.2% to $9,950 for family coverage, and $3,695 for a single person, according to a survey by the Kaiser Family Foundation and Health Research and Education Trust. The survey also found that 61% of workers were receiving employer sponsored health insurance.
In 2023, a 65-year-old single person may need $157,500 in after-tax savings to pay for retirement health care costs, according to a Fidelity Retiree Health Care Cost Estimate. The average 65-year ...
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The cost of health coverage through work jumped this year, in part because of inflation, according to a survey of U.S. employers. Premiums for both family and single plans climbed 7% after barely ...
The Centers for Medicare and Medicaid (CMS) reported that U.S. health care costs rose 5.8% to reach $3.2 trillion in 2015, or $9,990 per person. As measured by CMS, the share of the U.S. economy devoted to health care spending was 17.8% GDP in 2015, up from 17.4% in 2014.
According to professional services firm Aon, “The average cost of employer-sponsored health care coverage in the U.S. is expected to increase 9.0 percent, surpassing $16,000 per employee in 2025.”