A new report finds health care spending in the U.S. is nearly double that of other wealthy nations.
Spending on health care in the United States is far greater than any other high-income country, but that doesn't mean Americans are in the best of health. Data from the Commonwealth Fund found that in 2021, the U.S. spent 17.8% of its GDP on health care. However, the U.S. has a lower life expectancy at birth, and higher infant mortality rates that other wealthy nations. Some say the solution is more government funding. Health care expert Seth Denson disagrees.
“The federal government has long tried to reduce the cost of health insurance, but they’re not actually reducing the cost of health insurance. They’re just shifting the cost of health insurance back to the taxpayer,” Denson said.
He adds that it's our nation's healthcare system that needs to change.
“Until we systematically address the rising cost of health care, those goods that we receive, we won’t see actual reduction in health insurance costs,” Denson explained.