Increasing elderly population and increasing rates of chronic diseases
Explanation
Increase in the United States population since the 90s accounted for more than 20% increase in spending on health care. The Aging population accounts for an increase of about 16% which amounts to over $130 billion in healthcare spending for individuals in this age range. Other factors associated with increased healthcare spending are; population growth, population aging, disease prevalence or incidence, service utilization and service price and intensity
