Every year about 5 percent of Medicare enrollees die. And before they die, Medicare spends a great deal of money on them.
We spend more than one in every four Medicare dollars (27 percent) on patients in their last year of life. We spend almost one third (32 percent) on chronically ill patients in the last two years of life.
Is this wise public policy?
First some good news. The fraction of Medicare dollars spent on people near the end of their lives has remained roughly constant over the past several decades. So things arent getting worse over time. Furthermore, there is some evidence that the spending decisions are not entirely irrational.
|John C. Goodman is a Senior Fellow at the Independent Institute, President of the Goodman Institute for Public Policy Research, and author of the widely acclaimed Independent books, A Better Choice: Healthcare Solutions for America, and the award-winning, Priceless: Curing the Healthcare Crisis. The Wall Street Journal and the National Journal, among other media, have called him the Father of Health Savings Accounts.|
Obamacare remains highly controversial and faces ongoing legal and political challenges. Polls show that by a large margin Americans remain opposed to the healthcare law and seek to repeal and replace it. However, the question is: Replace it with what?