Report predicts slow U.S. health spending growth, fewer uninsured

The number of uninsured is expected to decline by nearly half from 45 million in 2012 to 23 million by 2023 as a result of the coverage expansions associated with the Affordable Care Act, according to a report from the CMS Office of the Actuary. Health spending growth is projected to remain slow at 3.6%, which would mark the fifth consecutive year of spending growth under 4%.

National health expenditures are projected to grow at an average rate of 5.7% for 2013 through 2023, about 1.1 percentage points faster than the expected average annual growth rate for the Gross Domestic Product. Average annual growth of 6% per year is projected for 2015 through 2023, “largely as a result of the continued implementation of the Affordable Care Act coverage expansions, faster projected economic growth, and the aging of the population,” CMS stated.

Source: CMS