The US health care sector is beginning to experience the full effect of the aging “baby boomer” population, 76 million of whom were born between 1946 and 1964, with nearly half eligible for Medicare in the coming year. In 2018, Medicare costs amounted to 14% of total federal spending, and by 2028, are projected to increase to 18%.1 Growing enrollments, increased use of services, and rising prices for prescription drugs are major drivers of these increasing costs.2
Gurwitz JH, Pearson SD. Novel Therapies for an Aging Population: Grappling With Price, Value, and Affordability. JAMA. 2019;321(16):1567–1568. doi:10.1001/jama.2019.2633
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