Healthcare spending in the US is projected to have risen 7.5 per cent in 2023 to US$4.8 trillion, federal data showed on Wednesday, outpacing the projected annual gross domestic product growth rate of 6.1 per cent. — iStock picWASHINGTON, June 13 — Healthcare spending in the US is projected to have risen 7.5 per cent in 2023 to US$4.8 trillion, federal data showed on Wednesday, outpacing the projected annual gross domestic product growth rate of 6.1 per cent.
The number of insured individuals largely grew due to record high enrollment in Medicaid, with 91.2 million people being covered under the federal and state health program for the poor in 2023. National health spending is expected to grow by 5.2 per cent in 2024, though Medicaid enrollment is set to decline by 11.2 per cent 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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