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Healthcare Spending Will Account for Almost 20% of US Economy by 2032: CMS ========== U.S. healthcare spending is projected to grow to nearly one-fifth of gross domestic product (GDP) by 2032, according to a report by the Centers for Medicare and Medicaid Services (CMS). The report states that healthcare spending is expected to grow at an average rate of 5.6% per year from 2023 to 2032, outpacing expected nominal economic growth of 4.3% per year. In 2023, healthcare spending increased by 7.5% annually, reaching a total of $4.8 trillion. Medicare spending rose by 8.4% in 2023, topping $1 trillion, and is projected to climb 6.1% in 2024. Medicaid spending grew by 5.7% in 2023, while private health insurance spending is projected to have risen 11.1%. Hospital spending is projected to have increased by 10.1% in 2023. The report also highlights that insurance coverage is expected to remain above 90% through 2032, with Medicaid enrollment projected to drop by 10.2 million in 2024. #UsEconomy #HealthcareSpending #Cms #Medicare #Medicaid #InsuranceCoverage https://finance.yahoo.com/news/healthcare-spending-account-almost-20-232746519.html