Subscribe to the Real Truth for FREE news and analysis.Subscribe Now
The U.S. increased spending on health care to $1.4 trillion in 2001, the largest percentage increase in 10 years. Medicaid expanded to $224.3 billion in 2001, posting double-digit increases in rates for all services except nursing homes. In addition, private health insurance was more expensive for the fourth year in a row, rising 10.5%, to $496.1 billion. Spending on medical services rose by 8.6%, to $314 billion. Prescription drugs accounted for $140.6 billion of total health costs.