CHICAGO: A new analysis of healthcare spending from 2001 through 2011 shows that per-person costs rose substantially as people aged. However, not all of this can be explained by the high cost of end-of-life care, and the report’s authors say more must be done to manage the mix of chronic conditions and physical limits that trigger healthcare spending.
Some key findings in the report include:
– Beneficiaries age 80 and older made up 24% of the sample in 2011, but they accounted for 33% of the spending.
– Average per capital healthcare spending rose from $7566 at age 70 to $16,145 at age 96 in 2011, with average per capital spending declining after that.
– Healthcare spending is growing much faster for beneficiaries age 90 or older than for younger beneficiaries, and gap between the cost of caring for the oldest beneficiaries and the youngest is widening.
Data in the report is alarming for all…