Healthcare could be the largest personal consumption expenditure of households in the U.S. within months exceeding spend on Housing and utilities.
Households in the U.S. are likely to spend some $2.45 trillion this year on healthcare. The spending on healthcare is quickly catching up with the largest expenditure item – Housing and utilities. Here are charts,
One could blame the increased spend on an aging population and unhealthy living but the main reason for the increased spend is Healthcare price inflation which is growing faster than any other inflation measured component.
And to add, the healthcare sector remains one of the biggest lobbying groups. Here are the biggest lobbying spenders in 2017,