Health care spending in the US is projected to reach $7.7 trillion by 2032, an increase of $2.9 trillion from the previous year. This represents a 5.6% annual growth rate from 2023-2032, which is higher than the expected 4.3% annual inflation rate. By 2032, health care costs are projected to account for nearly 20% of GDP, up from 17.3% in 2022.
In addition to these projections, there are several factors that could influence health care expenditures and enrollment over the next decade. One such factor is regulations put in place in response to the COVID-19 pandemic, including a decrease in Medicaid enrollment from 91.2 million in 2023 to 79.4 million in 2025 due to the expiry of the Families First Coronavirus Response Act of 2020. Medicare is estimated to have the highest spending growth rate over ten years due to an increase in program enrollment.
Another factor that could impact health care spending and enrollment is legislative provisions introduced in response to the COVID-19 emergency from 2023-
