Healthcare Spending Slows to Historic Low in 2008

In 2008, U.S. health care spending growth slowed to 4.4%—the slowest rate of growth over the past forty-eight years. The National Health Expenditure Accounts Team reports that despite the slowdown, national health spending reached $2.3 trillion, or $7,681 per person, and the health care portion of gross domestic product (GDP) grew from 15.9% in 2007 to 16.2% in 2008. The team observes that: “Despite the overall slowdown in national health spending growth, increases in this spending continue to outpace growth in the resources available to pay for it.”