By Josh Cothran, Georgia Institute of Technology
[CAF Note: Ever notice that the more private insurers and the government get involved, the worse and more expensive things get?]
In 1960, almost 100% of the spending on prescription drugs came out of the consumer’s pocket; by 2010, out-of-pocket spending was down to 20%. Over the past 50 years, there have been major shifts in the way hospital care, physician services, long-term care, prescription drugs, and other services and products are paid for. This interactive graphic uses data from the Centers for Medicare and Medicaid Services to show national spending trends from 1960 to 2010 for health care by payer.
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