CMS expects national health spending to reach $7.2 trillion by 2031, with 2022 expenditures projected to have hit $4.4 trillion — growing at a rate of 4.3 percent — according to a study published June 14 in Health Affairs.
From 2022 through 2031, health spending is anticipated to grow 5.4 percent a year on average, Becker’s reports.
Economic growth outpaced national health spending growth in 2022, according to CMS estimates, causing a decrease in the projected health spending share of gross domestic product from 18.3 percent in 2021 to 17.4 percent in 2022.
However, from 2022 through 2031, nominal GDP is estimated to grow 4.6 percent a year — 0.8 percentage point lower than average growth in national health expenditures — with health spending accounting for 19.6 percent of GDP by 2031, according to the report. Read more.
