People 65 and over accounted for 13% of the population and $387 billion, or 36%, of U.S. personal healthcare spending in 1999, according to a new report by the CMS. Those 65 and over accounted for $144 billion, or 37%, of hospital spending, and consumed an average of $11,089 each in healthcare goods and services in 1999, four times as much as the average for all Americans under 65, including children. The aging of the population will lead to a greater disproportion, the report said. Medicare paid for 46% of the cost of caring for the elderly, while Medicaid and private payers each covered about 15%. Medicare spending is expected to grow 67% to $297 billion by 2049 from $178 billion in 1999. The CMS said the 1999 date were the latest available.
By the Numbers
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