Medical spending among the U.S. elderly – Journalist's Resource

Expert Commentary
2015 working paper from the National Bureau of Economic Research that examines medical spending among elderly Americans, with a focus on the amount of medical expenses for those who are ages 70 to 90.
In the year 2050, there will be 83.7 million people in the United States who are 65 years old or older, according to estimates from the U.S. Census Bureau. That’s nearly twice as many senior citizens as there were in 2012. By 2050, the elderly population – especially those who are 85 years old and older – is predicted to start growing at a faster rate than the working age population. Such a dynamic could have significant implications for the U.S. in numerous areas beyond social security.
One area that will be impacted most is health care. The elderly receive more medical attention than any other U.S. demographic. Senior citizens made up 13 percent of the U.S. population but accounted for 34 percent of healthcare-related spending in 2010, a report from the U.S. Centers for Medicare and Medicaid Services shows. In 2010, healthcare spending amounted to $18,424 per person for people aged 65 and older – about five times as much as per-person spending for children ($3,628) and triple what was spent on working-age individuals ($6,125). Much of the elderly’s medical costs are paid for by the government. Almost all Americans who are 65 years old or older are eligible for Medicare, the federal government’s health insurance program. Some seniors also qualify for Medicaid, a government insurance program that specifically targets low-income families and individuals. Medicare spending alone totaled $618.7 billion in 2014.
A group of researchers led by economist Mariacristina De Nardi of the Federal Reserve Bank of Chicago sought to better understand how much money goes toward medical care for Americans aged 65 and older. Their 2015 report, titled “Medical Spending of the U.S. Elderly,” was completed for the National Bureau of Economic Research as part of the agency’s working paper series. The report is based on data collected between 1996 and 2010 through the Medicare Current Beneficiary Survey.
Some of their key findings are:
Related research: A 2014 Census Bureau report makes projections about and analyzes the effects of the aging population. A 2015 report in Political Analysis, “Explaining Systematic Bias and Nontransparency in U.S. Social Security Administration Forecasts,” examines whether the Social Security Administration’s forecasts make Social Security trust funds look healthier than they are.
 
Keywords: senior citizens, elderly, Medicare, Medicaid, medical care, nursing home, medication
We spotlight academic research and government reports to help journalists answer some of the questions remaining about the new student loan forgiveness program.
A handful of researchers tried to notify the international community about a brewing problem with monkeypox, but their reports went mostly unnoticed until an outbreak in the United Kingdom in May. More than 90 countries have now reported outbreaks.
Not sure what ‘standard deviation’ is or why it matters in academic research? We outline four key things journalists need to know about this common measure.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
by Lauren Leatherby, The Journalist's Resource
February 22, 2016
This <a target="_blank" href="https://journalistsresource.org/economics/elderly-medical-spending-medicare/">article</a> first appeared on <a target="_blank" href="https://journalistsresource.org">The Journalist's Resource</a> and is republished here under a Creative Commons license.<img src="https://journalistsresource.org/wp-content/uploads/2020/11/cropped-jr-favicon-150×150.png" style="width:1em;height:1em;margin-left:10px;"><img id="republication-tracker-tool-source" src="https://journalistsresource.org/?republication-pixel=true&post=48620&ga=UA-5985794-2" style="width:1px;height:1px;">
Thank you for subscribing.
Harvard Kennedy School is committed to protecting your personal information. By completing this form, you agree to receive communications from The Journalist’s Resource and to allow HKS to store your data. HKS will never sell your email address or other information to a third party. All communications will include the opportunity to unsubscribe.
A project of Harvard Kennedy School’s Shorenstein Center and the Carnegie-Knight Initiative, The Journalist’s Resource curates, summarizes and contextualizes high-quality research on newsy public policy topics. We are supported by generous grants from the Carnegie Corporation of New York, the Robert Wood Johnson Foundation, The National Institute for Health Care Management (NIHCM) Foundation and individual contributors.

Find us:
Unless otherwise noted, this site and its contents – with the exception of photographs – are licensed under a Attribution-NoDerivatives 4.0 International (CC BY-ND 4.0) license. That means you are free to republish our content both online and in print, and we encourage you to do so via the “republish this article” button. We only ask that you follow a few basic guidelines.

source

Facebook
Twitter
LinkedIn
Pinterest
Pocket
WhatsApp

Never miss any important news. Subscribe to our newsletter.

Leave a Reply

Your email address will not be published.