Data for Sangha. Everyone please contribute

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by Bern80, Dec 5, 2010.

  1. Bern80
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    Bern80 Gold Member

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    If anyone has been following another thread in here you know Sangha is rather obsessed with how much americans spend as a percentage of income on health care. I did some research but couldn't find much for numbers for the entire population. So in an attempt to get some kinds of idea I am asking everyone on the board to post here and tell us what you spent, as a percentage of your income on health care in 2010. I'll start.

    To keep things uniform we want the percent of GROSS income. For expenditures we want everything. Premiums, co-pays, out-of-pcoket, etc. I'll start.

    15%
     
  2. asterism
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    asterism Congress != Progress

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  3. bigrebnc1775
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    bigrebnc1775 Diamond Member

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    According to th New york times you are just about right

    In 2007, the last year for which fairly precise estimates in American health spending are available, we spent $2.24 trillion on health care in this country. It amounted to 16.2 percent of our 2007 gross domestic product of $13.8 trillion and to $7,421 per person living within our borders.
    Because our national health spending has grown by about 6 percent annually in recent years, per capita health spending this year probably will be as much as $8,300. Furthermore, because G.D.P. has declined in the past year, we will most likely be devoting 18 percent of that smaller G.D.P. on health care this year.

    Reader Response: How Much Do We Spend on Health Care? - NYTimes.com
     
  4. Bern80
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    Bern80 Gold Member

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    Is percent of GDP basically the same thing as percent of income? Because it seems to get thrown around a lot as the same thing
     
  5. RadiomanATL
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    RadiomanATL Senior Member

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    15%. But only because I have a second job. If it was just one job, it would be 21%.
     
  6. Baruch Menachem
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    Baruch Menachem '

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    It is 450 a month now, but my income is zero.

    When I had a job, it was 150 per month out of 2100, so a little over 7% when I was working.

    I had very little out of pocket. I don't smoke, I used to exercise a lot. My kids are very healthy too. It just amounted to catastrophic insurance plus a bit of prophy care
     
  7. Two Thumbs
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    Two Thumbs Platinum Member

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    I have a large family
     
  8. Greenbeard
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    Greenbeard Gold Member

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    Depends what you're talking about. Your OP sounds like you're talking about the percentage of your disposal income you put towards anything health care-related. So that won't count other sources of spending that show up in that national expenditures data bigrebnc refenenced, like the taxes that pay for Medicare and Medicaid or premium contributions made on your behalf by an employer, etc.

    If you want to know what fraction of the average person's personal spending goes toward health care, that data exists (obviously it can vary quite a bit for different people). That table breaks it down by age, income quartile, geography, and so on but the short answer is that in 2007 the average person/family ("consumer unit") was devoting 5.7% of its personal expenditures to health care-related things. Visual Economics even has a handy graphic that helps put that in the context of other things the average consumer is buying. Personally, I spend less than that average percentage of my income on health care.
     
    Last edited: Dec 5, 2010
  9. bigrebnc1775
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    bigrebnc1775 Diamond Member

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    No I don't think so.
     
  10. Bern80
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    Bern80 Gold Member

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    Thanks Greenbeard. That is what I was looking for. This basically came up in the context of a debate about the benefits of socialized medicine and comparing percent of income spent on health care to other nations (specifically France).
     

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