For the first ever time, Government programs for the coming year will account for over 50% of the entire US healthcare spending, as has been predicted by federal actuaries, mainly on the back of a weak economy pushing more and more people into Medicaid, all the while slowing the growth of private insurance.
The high figures have managed to reveal how federal and state spending is now taking on a bigger role, while the Congress hesitates over a revamp of the country's health-care system.
Government run healthcare programs seem to have become a growing burden on the federal budget, which is already running yearly deficits of over $1 Trillion, and the surging health costs are continually battering the private sector industries.
According to new predictions shared, by the time 2020 rolls in, nearly 1 in 5 Dollars spent in America would go towards health care.
"It's going to be a desperate issue five to 10 years out", said Gail Wilensky, the ex-top Medicare official in the Bush administration, while stressing that U. S. will have to decide soon between raising revenue to pay for Medicare or reducing benefits.
TopNews United States has contributed to the report.
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