Spending on health care in the U.S. has been down since the recession, but the Office of the Actuary at the Centers for Medicare and Medicaid Services says that's going to change.
Its latest 10-year look-ahead shows spending to grow an average of 5.7 percent per year from 2013 to 2023. With the 3.6 percent rate of 2013 and estimated 5.6 percent hike in 2014 eliminated from the formula, the rate should jump to 6 percent annually between 2015 and 2023.
Should those numbers be achieved, they will slightly outpace the projected increase in the U.S. GDP.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
