Here are five key trends on healthcare spending in the United States according to a report from the Kaiser Family Foundation.
1. People age 55 years and older account for nearly half of the total healthcare spending in the United States although they are only 25 percent of the total population; people under the age of 19 account for 17 percent of spending, although they are 25 percent of the population.
2. Most Americans spend $200 or less per year in out-of-pocket healthcare services; 27 percent said they spend no money on out-of-pocket services and another 29 percent said they spend up to $200.
3. The spending in traditional Medicare increases with age and peaks at $16,145 at the age of 96 years old. The amount spent on hospice care peaks at age 104.
4. Ten percent of families account for 51 percent of the healthcare spending; the top 5 percent account for 35 percent of healthcare spending.
5. Females typically spend more than males on healthcare, with the biggest variation being in the ages of 19 to 24 years old when females spend $3,475 on average while males spend $1,371. By age 55 to 64, males and females are about even at $7,019 for males and $7,151 for females.