Not “Socialized Medicine” — An Israeli View of Health Care Reform

Abstract

In 2007, the United States spent about 15% of its gross domestic product (GDP) on health care, whereas Israel's health care spending was about 8% of its GDP (see graph, Panel A). In other words, on average, Americans work almost 2 months a year to pay their medical bills — nearly twice as long as the average Israeli does. Reflecting higher U.S. earnings and incomes, as well as the U.S. population's older average age, these figures translate into per capita U.S. spending (standardized for age) amounting to more than three times that of Israel — over $6,000 versus nearly $2,000 . . .

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