Viewing Health Care Spending Through a Crystal Ball
February 2008 | Employee Benefit News
The Congressional Budget Office recently released data showing that spending on health care would increase from 16% of gross domestic product in 2007 to 25% in 2025, 37% in 2050 and 49% in 2082.
The nation's health care cost "has been growing faster than the economy for many years, representing a challenge both for the government's two major health insurance programs, Medicare and Medicaid, and for the private sector," says Peter R. Orszag, director of CBO, a federal agency that provides nonpartisan analyses on economic and budget decisions.
Massachusetts Makes Health Insurance Mandatory
As of December 31, 2007, all Massachusetts residents 18 or older were required to obtain and maintain health insurance, and Blue Shield will help the residents who are members of our health plans verify that they have coverage.