Health Spending Projected to Grow 5.6%

///Health Spending Projected to Grow 5.6%

Health Spending Projected to Grow 5.6%

According to a report from the Centers for Medicare & Medicaid Services (CMS) that was published Wednesday by Health Affairs, health spending across the nation is projected to grow 5.6% each year within the next decade. It was expected that there would be growth in healthcare spending due to factors that economist had estimated would contribute to growth, such as the ACA insurance expansion, the population getting older and new, costly prescription drugs.

Between 2016 and 20125, CMS analysts say that health spending will stem from changes in the economoy and population rather than the ACA coverage growth. In years 2016 to 2017, analysts expect the health spending growth to be the slowest, with a growth rate of 4.8% in 2016 and 5.4% in 2017. From 2018 and forward, health spending will see a quicker growth, with a boost in Medicare and Medicaid spending, as the population for both will be aging.

Read the original article from Modern Healthcare here.

By | 2017-02-20T09:09:59+00:00 February 20th, 2017|Articles, Industry Updates|0 Comments