Health Care Spending Spiked to $3.2 Trillion in 2015

The pace of U.S. health care spending picked up slightly last year, reaching a total of $3.2 trillion or $9,990 per person in the country. While a number of factors were at play, the increase was largely due to expanded coverage of individuals who signed up for Obamacare or who took advantage of a major expansion of Medicaid, according to a new study released on Friday.

The new analysis from the Office of the Actuary at the Centers for Medicare and Medicaid Services (CMS) estimated that health care spending grew at a rate of 5.8 percent in 2015, less than a percentage point increase from the previous year. Viewed as a share of the entire U.S. economy, health care spending last year constituted 17.8 percent of Gross Domestic Product, up from 17.4 percent in 2014.

– The Fiscal Times

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