Health care spending will hit $3.35 trillion this year, or $10,345 per man, woman and child in the United States, a record high, the Centers for Medicare and Medicaid Services (CMS) announced July 13.
The agency also predicted that growth in health care spending will average 5.8 percent from 2015 through 2025, outpacing growth in the economy, though this year’s spending growth is a tad lower at 4.8 percent. That rate compares favorable to the 8 percent annual growth rate in the two decades prior to the Great Recession of 2008, CMS added.
“Per-capita spending and medical inflation also remain at historically very modest levels, demonstrating the importance of continuing to reform our delivery systems,” said CMS Acting Administrator Andy Slavitt. “As we look to the future we must continue our efforts that keep people healthy, providing access to affordable, quality care, while spending smarter across all categories of care delivery.”
A separate government study has found that about 5 percent of the population accounts for half of the spending.