U.S. spending for health care may double to $4 trillion by 2015, propelled by an aging population using more drugs, hospital care and technology, according to a government forecast.
If medical spending rises that much, it will consume about 20 cents of every dollar in goods and services produced in the U.S, up from 16 cents last year, said authors of the outlook. The cost of health care will jump to twice its current amount even if more Americans can be encouraged to use health savings accounts, a new type of insurance being promoted by President George W. Bush to help curb spending.
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