A Headache for the Next President
America’s medical bills are going through the roof. Though the Affordable Care Act was supposed to contain it, health care spending is rising faster than inflation or GDP, according to a new Department of Health and Human Services report. Spending now averages more than $10,000 a year for each American — man, woman and child — and will accelerate over the next decade. This will put enormous pressure on federal and state budgets, which are expected to pick up a growing share of expenses. In addition, Medicare’s actuaries warn its hospital trust fund will run out of money in 2028.
