Health Affairs December 6, 2018
Anne Martin and the actuarial team at the Centers for Medicare and Medicaid Services (CMS) have once again released their annual estimates of national health expenditures (NHE). The news is pretty good. In 2017, spending grew just 3.9 percent. This is lower than the rates in 2014-2016, when the ACA’s coverage expansions took effect; well below the rates that were typical before 2008; and similar to the rates in 2011-2012.
As usual, the authors report on spending growth under a powerful microscope, decomposing change by payer, by function, and among price, volume, and intensity — an exercise that highlights the contributions of public and private policymakers. This microscopic focus is appropriate and accurate, but it risks fueling policy hubris: a...
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