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U.S. Health Report Says Drug Spending up 12 Percent

Dec 02, 2015

Bloomberg Business

According to a Bloomberg report, U.S. health-care spending increased 5.3 percent last year, the biggest increase since President Barack Obama took office.

Spending on hospitals, doctors, drugs and other health-care expenses hit $3 trillion in 2014, or 17.5 percent of the economy, according to a study released Wednesday. Enrollment in private health plans increased by 2.2 million people to 189.9 million, while 7.7 million more people were covered by Medicaid, the U.S.-funded, state run program for the poor.

Spending on retail prescription drugs increased 12.2 percent, as new treatments for hepatitis C and some cancers were introduced, according to the report.

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