Health care spending in the United States is projected to grow 6.8 percent in 2006, down slightly from the 6.9 percent growth experienced in 2005. This expected growth rate would mark the fourth consecutive year of slowing growth since a peak of 9.1 percent in 2002, and would be the slowest rate of growth observed since 1999. Over the projection period, growth in the expenditures for health care is expected to remain relatively stable, averaging 6.9 percent per year. As a percentage of Gross Domestic Product (GDP), health care spending is expected to hold steady at 16.0 percent in 2006. By 2016, health care spending in the United States is projected to reach just over $4.1 trillion and comprise 19.6 percent of GDP. The implementation of Medicare Part D (Part D) in 2006 results in a major shift in the sources of payment for prescription drugs, as spending is transferred from Medicaid and private sources of funding to Medicare. Consequently, expected growth rates for public and private spending in this year’s projection are very different. For instance, growth in public personal health care spending in 2006 is projected to climb to 9.9 percent while private personal health care […]