Although US health care spending grew more slowly in 2007, its rate still outpaced general economic growth.  Total health care costs in 2007 reached $2.2 trillion or $7,421 for every American.

The Centers for Medicare and Medicaid Services released a report from the CMS Office of the Actuary on Tuesday that showed overall health care spending grew at a 6.1 percent rate in 2007, down from 6.7 in 2006 and the slowest rate of growth since 1998.  Overall economic growth was 4.8 percent.

Health care spending’s share of the Gross Domestic Product continued to increase, reaching 16.2 percent, an increase of 0.2 percent over 2006. Read the rest of this entry »