February 26, 2008 Report: Health care costs on the rise Play video

(NECN) - If you are worried about the cost of health care now, wait until you see what it's going to be like in a few years. The federal government is out with a staggering new report -- in less than ten years, one out of every $5.00 spent by Americans and their government will be for health care.

According to the report, total health care spending in the year 2017 will average out to $13,101 per person.

By contrast, that spending in 2006 worked out to an average of $7,026 per person, for a total of $2.1 trillion spent on health care.

That represents an annual increase of 6.7% -- nearly three times the rate of inflation.

The Centers for Medicare and Medicaid Services says the increase will be driven by higher prices and an increased demand for care.

NECN health and science reporter Ally Donnelly breaks down the numbers.