US healthcare spending rose 7.5% in 2023, government report says

Politics and Government Politics and Government

Thu, December 19, 2024

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US healthcare spending rose 7.5% in 2023, government report says

^{Published on 2024-12-18 18:01:18 - MSN}

U.S. healthcare spending rose by 7.5% in 2023 from 4.6% the year prior to reach $4.9 trillion, driven by increased use of medical services and as enrollment climbed for private health plans, particularly in plans under the Affordable Care Act,

In 2023, U.S. healthcare spending increased by 7.5%, reaching $4.8 trillion, according to a report from the Centers for Medicare & Medicaid Services (CMS). This rise was influenced by several factors including the end of the public health emergency for COVID-19, which led to a decrease in related spending, and an increase in Medicaid enrollment due to the continuous enrollment provision ending. The report highlighted that while spending on private health insurance and out-of-pocket costs grew, the growth in Medicare spending slowed due to fewer enrollees. Additionally, the healthcare sector saw a significant increase in the use of telehealth services, which continued to grow even after the peak of the health crisis. The CMS also noted that the overall healthcare spending as a percentage of GDP was 17.3%, slightly down from the previous year due to economic recovery.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/us-healthcare-spending-rose-7-5-in-2023-government-report-says/ar-AA1w7cFP ]

N@N

US healthcare spending rose 7.5% in 2023, government report says