Question

What proportion on the GDP is spent on health care

Answer 1

Healthcare is one of the very vital sector to be taken care off in any country. The health of the citizens is to be taken care off therefore, always a portion of the Gross Domestic Product(GDP) is always spent in this area.

In case of U.S. in the year 2016 the health care spending grew by 4.3 percentage, and it reached to $3.3 trillion or $10348 per person. The spending accounted to 17.6 percentage as a share of the nation's GDP in the year 2010. If we take the data of the OECD countries then the average spending on health care among the 33 developed countries was $3268 per person. The largest effects from coverage expansions in U.S occurred in 2014 and 2015. It is expected that the coverage will be reaching nearly $5.5 trillion by 2025. This percentage spending was 5.4 percentage in 2017 which was the result of slow growth in spending on Medicaid , private insurers and relatively low Medicare spending. It is expected that this spending will increase at an accelerated pace begining in 2018, because of higher spending on Medicaid and Medicare.