Healthcare Expenses as a Percentage of GDP: What Happened in 1980?

| About: iShares U.S. (IYH)

Tyler Cowen posted this graph of health care expenses as a percentage of GDP today and asked “What happened in 1980?”


I’d ask not only what happened but why did it apparently cause U.S. expenditures to continue rising at a rate in excess of other economies’?

Anyone care to offer some thoughts on this one?