Bangkok--21 May--Standard & Poor's
On almost all numerical indicators of health care, the United States ranks below average among developed countries—-except in spending, according to a report just published on RatingsDirect. In "Can The U.S. Economy Afford Health Care Reform?" the report states that to finance health care, we are shifting more of the costs to the government, while private employers are reducing the share they will pay or are not offering health insurance benefits at all. The government now covers about half of all health care costs.
"In fact, per capita public expenditures on health care in the United States now exceed those of all the other G-7 countries based on purchasing power," said Standard & Poor's Chief Economist David Wyss. "Total per capita expenditures are now nearly double those of Canada, the next most-expensive country. Yet, the U.S. has the lowest life expectancy at birth of the seven countries," he continued.
The new health care bill will not help lower costs. Its emphasis is on increasing coverage. How much the additional coverage will cost is uncertain.
The report is available to RatingsDirect on the Global Credit Portal subscribers at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to
[email protected]. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact:
Mimi Barker, New York (1) 212-438-5054,
[email protected]
Analyst Contacts:
David Wyss, New York (1) 212-438-4952