U.S. healthcare spending rises to $4.8 trillion in 2023, outpacing GDP

U.S. healthcare spending rises to $4.8 trillion in 2023, outpacing GDP Healthcare spending in the U.S. is projected to have risen 7.5% in 2023 to $4.8 trillion, federal data showed on Wednesday, outpacing the projected annual gross domestic product growth rate of 6.1%. Ahmed Aboulenein Reuters

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Spending on Medicaid and private health insurance drove the growth, with the insured share of the population surging to a historic high of 93%, data from the U.S. Centers for Medicare and Medicaid Services (CMS) showed. ...

National health spending is expected to grow by 5.2% in 2024, though Medicaid enrollment is set to decline by 11.2% when over 10 million people lose coverage now that pandemic response measures guaranteeing continuous enrollment have expired. An estimated further 2 million will lose coverage in 2025.

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