CMS Office of the Actuary Releases 2018 National Health Expenditures
Posted on Monday, December 9, 2019 1:52 PM
The Office of the Actuary at CMS published a study last week that shows that national healthcare spending increased 4.6% in 2018, this number is lower than the 5.4% overall growth as evidenced by the Gross Domestic Product.
“As a result, the share of the economy devoted to health spending decreased from 17.9 percent in 2017 to 17.7 percent in 2018. Growth in overall healthcare spending has averaged 4.5 percent for 2016-2018, slower than the 5.5 percent average growth for 2014-2015, that was affected by expanded Medicaid and private insurance coverage and increased spending for prescription drugs, particularly for drugs used to treat hepatitis C. The growth in total national healthcare expenditures was approximately 0.4 percentage point higher than the rate in 2017 and reached $3.6 trillion in 2018, or $11,172 per person.”
The following is a breakdown increases:
- Private health insurance spending grew to 2.8% in 2018 an increase over the 4.9% in 2017.
- Medicare spending increased to 6.4% over 4.2% in 2017
- Medicaid spending increased 3.0% over 2.6% in 2017
- Out-of-pocket spending grew 2.8% which is faster than the 2.2% in 2017
Click here for the full article.
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