Age Differences in Medical Care Spending, Fiscal Year 1973

The Social Security Administration reports that, of the $80 b&on spent for personal health care 2n fiscal year 1973, 15 pcrccnt was spent for the yozcng (under age .29), 57 percent for persons aged 19&j, and 28 percent for those aged 65 and over. The aged sndividunl had the largest per capita mcdtcal bill, $1,052; the bill was $384 for a per8on in the intermediate age group and $167 for a’ young person. Nest ntedtcal bills were paid for by a third party-government, przvate health insurance, philanthropy, or zndustry. Altogether, thzrd parties paid 70 percent of the bill for the aged and more than 60 percent for persons under uge 65. Publlc funds alone puid for nearly 30 percent of personal health care spending for the two younger groups and as much a& 6-j percent for the aged Nedzcarc naet 40 percent of the health bill for the oldest group--slightly lea.3 than the 42 percent in i972. The smaller proportion results partly from the riae in the SHI deductable, whzch went from $50 to $60 as of January 19Y3. The average out-of-pocket payme& ro9e $7 for persons under age 65 and was nearly $23 higher for the aged.