CBO Predictions Released for Medicare and Medicaid Spending Over Coming Decade
Posted on Tuesday, February 2, 2016 8:27 AM
CBO announced “The Budget and Economic Outlook: 2015 to 2025” which outlines federal spending and revenues, along with the federal debt for the upcoming decade. CBO predicted spending on major health care programs would exceed spending on Social Security, nearly doubling over the period of 2015 to 2025. The following major health care programs are estimated to increase more than 5.1 percent of GDP in 2015 to 6.2 percent in 2025:
- Grants for health insurance purchased through exchanges
CBO anticipates spending to continuously grow at an average rate of nearly 7 percent per year. For the full article, click here.
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