Medical Economics December 18, 2024
Richard Payerchin

Health care costs money. Here’s how much the nation spent last year.

U.S. health care spending hit $4.9 trillion in 2023, increasing 7.5% last year, up from a growth rate of 4.6% in 2023.

On Dec. 18, 2024, Health Affairs published the abstract detailing U.S. health care spending for 2023. The figures were compiled by the Office of the Actuary of the U.S. Centers for Medicare & Medicaid Services (CMS).

In 2023, private health insurance and Medicare spending grew faster than in 2022, while...

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