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Economic Commentary

The Economics of Health Care Reform

Few things are as important to Americans as good medical care. In 1992, we spent about 14 percent of our national output on health-related services, and by the year 2000, mat share is expected to reach nearly 19 percent. To some, these numbers are frightening. To others, they merely reflect the preferences of a health-conscious and aging society. As Congress and President Clinton iron out the final details of a health care reform package, it has become clear that the scope and scale of the legislation are destined to affect the course of American lives for years to come.

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit for updates.

Suggested Citation

Carlstrom, Charles T. 1994. “The Economics of Health Care Reform.” Federal Reserve Bank of Cleveland, Economic Commentary 9/15/1994.