The cost of health care in Texas is rising faster than both the general inflation rate and the growth of the states population. In fiscal 2015, Texas state government spent $42.9 billion on health care services, or 43.1 percent of all its appropriations from state, federal and other sources.
The March issue of "Fiscal Notes" looks at a recent report issued by the Texas Comptrollers office, "Texas Health Care Spending Report: Fiscal 2015", which examines and quantifies health care spending by 68 state agencies and higher education institutions in a recent five-year period.
Emerging technologies, demographics and the growth of our great state will ensure the demand for health care services continues to increase even while the cost of these services is on the rise, Texas Comptroller Glenn Hegar said. The question for policymakers is how to contain these costs.
In this issue, the Comptrollers office also examines the potential for greater trade with Cuba, the communist nation that has been subject to a U.S. trade embargo since 1962. Relaxing or even removing the embargo could open new markets for Texas, especially for our agricultural producers. Yet significant statutory and political obstacles remain in place.