Health Care Spending Paper Essay Example | Topics and Well Written Essays - 1250 words

Health Care Spending Paper - Essay Example The current developments in health care spending indicate that this sector is slowly spiraling out of control. Policies are being put in place to try and address the problem before it completely gets out of hand. This paper will look at some of the aspects of health care spending, and how it is affecting different trends in the economy in the United States. Currently, health care spending has hit an all-time high. It is estimated that in the year 2013, the health care sector in the region used almost 3 trillion U.S. dollars, which is said to be over 15% of the region’s economy. Statistics also provide evidence that spending in this sector has been growing at a rate of at least 3 percent since the year 2009. Spending in the United States has doubled since the early 2000s, but the sluggish recovery of the economy is what may be making the rates much lower than anticipated (Yesalis, Politzer & Holt, 2012). Most of the people in the region are foregoing medical care as a result of a decline in their disposable income, increase in cost to workers, and even loss of health cover. It is my belief that the coming year, and the ones after that, may record a sharp rise in health care spending. It is my opinion that the figures projected by some of the organizations in the region are too high. This is a clear indication that almost a quarter of the region’s economy is spent on health care and other related health care costs, which means that the other sectors present are having to share most of what is left. The health care sector is just as important as any other sector that is present in the region. This means that proper policies must be put into account when coming up with estimates for the use and appropriation of capital into the health care sector. The amount of capital that is spent on medicine, as compared to other Organizations for Economic Co-operation and