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Top 5 Countries that Spend the Most on Healthcare

Top 5 Countries that Spend the Most on Healthcare

South Africa doesn’t appear on the top 5 countries that spend the most on health care. It doesn’t even appear on the top 10 list. That, however, in no way indicates that our health care is cheap and that you don’t need medical aid or health insurance. It only means that other countries spend more on health care than we do. Here are the top 5 countries that spend the most on healthcare

5. Luxembourg

The OECD country has one of the highest expenditures on health care, comprising of 7.8 percent of the country’s GDP. The country needs to offset some unhealthy lifestyle choices if it wants its citizens to spend less time in hospital. Luxembourg has the highest annual rate of alcohol consumption, with 15,5 litres per capita. Despite that, the life expectancy is 80.7 years.

4. Netherlands

The average person in the Netherlands spends US$4,914 on health care every year, equivalent to 12 percent of the country’s GDP. The expenses increased by 16 percent between 2008 and 2009. Despite how much is spent on health care, the average citizen only spends about $227 dollars out-of-pocket on health care.

3. Switzerland

The total spent on health care in Switzerland is equivalent to 11.6 percent of the GDP. The average Swiss spends a massive US$5,344 every year on health and medication, which is great for all the private hospitals. The country has one of the most privatised health care systems in the world.

2. Norway

Despite having the second-most nationalised health care system, Norwegians still spend more than $800 per person per year on health care. The country’s health care expenses equal about 9.6 percent of the GDP. More than 80 percent of Norway’s population gets their medical bills covered by the public sector.

1. United States

No surprises here. The United States spends the most on healthcare, with total expenditure of $7,960 per capita, equal to about 17.4 percent of the GDP. The United States spends a large amount on pharmaceuticals and medical non-durables, which adds to the expense. Despite all this, it has the 8th lowest life-expectancy of the OECD at 78,2 years.

Sources: Investopedia

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