In 2023, national health-care spending is projected to increase by an estimated 7.5% to nearly $4.8 trillion, according to national projections released on Wednesday. This growth is expected to outpace the growth in the gross domestic product over the next decade.
The rise in spending last year was driven by increased use of health services, which was fueled by a record-high 93% of Americans having health coverage. These findings were reported in the annual report on long-term health-care costs and coverage from the Centers for Medicare & Medicaid Services’ Office of the Actuary.
From 2027 to 2032, health-care inflation and increased use of services are expected to continue pushing total health-care spending to nearly $7.7 trillion. This growth highlights the importance of addressing rising health-care costs and ensuring that all Americans have access to affordable and quality health care services.
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