Economist says healthcare reform bill will raise spending to 20 percent GDP ‘much before 2017’

Kerry Anne McGeary, assistant professor of economics at Drexel University’s LeBow College of Business, says the current version of the health care reform bill in the House of Representatives will raise health care spending to 20 percent GDP more quickly than the proposed date of 2017. The health care reform bill, as currently proposed, offers major investments in one of our largest industries.

“Roughly 17 percent of our annual GDP is spent on the healthcare industry. Without these proposed entrants, our healthcare spending was projected to increase to 20 percent of the nation’s GDP by 2017; however if the bill is passed, it is likely our healthcare spending will reach 20 percent of GDP much before 2017.”