Europe

Luxembourg has the largest age-related medical costs in the EU

Luxembourg has the largest age-related medical costs in the EU

Health care

A study released by the Central Bank of Luxembourg predicts higher spending, according to the European Commission’s analysis.

A study released by the Central Bank of Luxembourg predicts higher spending, according to the European Commission’s analysis.

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Population growth and aging will almost double Luxembourg’s per capita health care costs towards the end of the century, according to a survey released this week by the national central bank.

The findings are consistent with the assessments by the intergovernmental group OECD and the European Commission. The European Commission predicts that in 2020, the Grand Duchy will experience the sharpest increase in aging-related spending among EU countries.

Public spending on health care is projected to rise from 5.8% of Luxembourg’s GDP in 2020 to 7% in 2070, according to a study by researchers at the Central Bank of Luxembourg and the Institute of Social and Economic Research. This means public spending on health care will increase from € 5,400 per capita in 2020 to € 9,400 in 50 years, researchers said.

Researchers said the increased costs come primarily from rising costs for providing medical care and greater demand for its care by the aging population.

The study predicts that public spending on long-term care will rise from 0.7% of GDP in 2020 to 2.5% in 2070, and that per capita spending on long-term care will rise from € 600 to € 3,400 over the same period. bottom.

“Luxembourg’s Social Security System is currently enjoying a comfortable financial situation, but the expected increase in spending is jeopardizing its sustainability,” the researchers write. “While pensions are the main driver of increased spending, increasing the efficiency of health care and long-term care can help limit its financial impact.”

Luxembourg National Health Insurance Fund CNS By 2020, it had already recorded a shortfall of more than € 12 million, so it was predicted that health and childbirth coverage would increase last year. The CNS was expected to have a deficit of € 101 million in 2021 and € 68 million in 2022.Service said last November.


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http://www.luxtimes.lu/en/luxembourg/luxembourg-to-have-biggest-age-related-health-costs-in-eu-6272473ede135b92369d08e5 Luxembourg has the largest age-related medical costs in the EU

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