Workplace Issues

Health Spending Checkup

How much did the United States spend on health care last year?
CFO StaffJanuary 5, 2015

14Dec_QuizThis month the federal Centers for Medicare and Medicaid Services released its annual report on health care spending in the United States, for the year 2013. The CMS has been tracking national health expenditures since 1960. Test your knowledge of health spending by taking our quiz:

1. How fast did U.S. health spending grow in 2013?
A 2.8%
B. 3.6%
C. 4.1%
D. 4.9%

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2. The rate of health spending growth was:
A. The lowest since 1960
B. The lowest since 1970
C. The lowest since 1980
D. The lowest since 1990

3. Health spending accounts for what percentage of GDP?
A. 12%
B. 15%
C. 17.4%
D. 20.1%

4. On a per capita basis, how much was spent on health care in 2013?
A. $6,422
B. $7,683
C. $9,255
D. $10,210

5. Spending growth slowed in three of the following categories. In which category did growth accelerate?
A. Private health insurance
B. Medicare
C. Out-of-pocket spending (e.g., copayments, deductibles, services not covered by insurance)
D. Medicaid

6. Spending on retail prescription drugs grew 0.5% in 2012. Spending in 2013 grew:
A. 0.4%
B. 0.5%
C. 1.2%
D. 2.5%

7. Rank the following in terms of share of total health spending, from largest to smallest:
A. Federal government
B. State and local governments
C. Private businesses
D. Households

Answers: 1–B; 2–A; 3–C; 4–C; 5–D; 6–D; 7–D (28%), A (26%), C (21%), B (17%)

Source: Centers for Medicare and Medicaid Services