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Title: A Dozen Facts about the Economics of the U.S. Health-Care System

Citation Type: Miscellaneous

Publication Year: 2020

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Abstract: The health-care sector is in many ways the most consequential part of the United States economy. It is a fundamental part of people’s lives, supporting their health and well-being. Moreover, it matters because of its economic size and budgetary implications. The health-care sector now employs 11 percent of American workers (Bureau of Labor Statistics [BLS] 1980– 2019b and authors’ calculations) and accounts for 24 percent of government spending (Centers for Medicare & Medicaid Services [CMS] 1987–2018; Bureau of Economic Analysis 1987–2018; authors’ calculations).1 Health insurance is the largest component (26 percent) of nonwage compensation (BLS 2019b) and health care is one of the largest categories of consumer spending (8.1 percent of consumer expenditures; BLS 2019a).

Url: hamiltonproject.org/assets/files/HealthCare_Facts_WEB.pdf

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Authors: Nunn, Ryan;; Parsons, Jana;; Shambaugh, Jay C.

Publisher: Hamilton Project

Data Collections: IPUMS Health Surveys - MEPS

Topics: Health, Population Health and Health Systems

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