The United States has one of the world’s highest costs of healthcare. In 2020, the US spent an estimated $4.1 trillion on healthcare. The US spends more on healthcare as a share of the economy — nearly twice as much as the average OECD country — yet has the lowest life expectancy and highest suicide rates among the 11 nations. Health spending per person in the US exceeded $10,000 in 2018, more than two times higher than in Australia, France, Canada, New Zealand, and the UK.
In 2018, the average US resident paid $1,122 out-of-pocket for healthcare, which includes expenses like copayments for doctor’s visits and prescription drugs or health insurance deductibles. Only the Swiss pay more; residents of France and New Zealand pay less than half of what Americans spend.
OECD Analysis
In 2018, the average US resident paid $1,122 out-of-pocket for healthcare, which includes expenses like copayments for doctor’s visits and prescription drugs or health insurance deductibles. Only the Swiss pay more; residents of France and New Zealand pay less than half of what Americans spend.
This prohibitively high cost contributes to Americans having problems accessing healthcare. A 2018 study ranks the US 29th out of 195 countries in healthcare access and quality. The US doesn’t recognise healthcare as a basic human right, but the Affordable Care Act has improved access to care. Healthcare coverage is provided through a combination of private insurance and public coverage. The US doesn’t have a universal healthcare programme. About 58 per cent of community hospitals are non-profit, 21 per cent are government-owned, and 21 per cent for-profit.
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