The cost of healthcare is out of control. In the current fiscal year, the State of Delaware is spending nearly $2 billion on Medicaid and insurance plans for state employees and retirees—a $200 million increase over FY 2024. Governor Carney has repeatedly called the growth of healthcare expenditures “unsustainable,” and he’s right.
According to the Bureau of Economic Analysis, Delaware ranked dead last in 2023 among all states for gross domestic product (GDP) growth at -1.2%. We were the only state to experience a negative GDP growth rate.
In 2022, combined public and private U.S. healthcare expenditures accounted for 17.3% of GDP. * Our nation has the highest healthcare spending, as expressed by a percentage of GDP, among all developed countries.
If nothing changes, healthcare spending is expected to reach 20% of GDP by 2031, with a total outlay approaching $7 trillion!
Commonwealth Fund.org confirms the U.S. has the most …