Yeesh. Life expectancy in the US hasn't really changed that much compared to how much we've spent. Don't believe me? Click here to see a nice graphic that compares US life expectancy versus our health expenditures from 1970-2014. Just for kicks, check out the other countries on the graph too. Tough to say, when it comes to life expectancy, that spending more on our healthcare has helped us in the US! Why the disparity between our life expectancy and that of other countries? For that answer, look here.
Two points are worth mentioning. Firstly, all countries in this graph have followed an upward trajectory (life expectancy increased as health expenditure increased), but the U.S. stands out as an exception following a much flatter trajectory; gains in life expectancy from additional health spending in the U.S. were much smaller than in the other high-income countries, particularly since the mid-1980s. And secondly, the gains for all countries (except for the U.S.) were not diminishing, as in the previous graph. This suggests that there are many other factors affecting life expectancy, that are not determined by healthcare spending. Indeed, as we have pointed out before, healthcare is just one of many inputs to produce health.