US health spending to top $7.7 trillion by 2032: CMS

Becker's Healthcare June 12, 2024
Naomi Diaz

CMS expects national health spending to reach $7.7 trillion by 2032, with 2023 expenditures projected to have hit $4.8 trillion and have grown by a rate of 7.5%.

From 2023 to 2032, health spending is expected to grow by an average of 5.6% per year, according to a June 12 news release from CMS.

11 things to know:

1. National health spending is expected to have grown faster than the economy in 2023, according to CMS, increasing its share of the GDP from 17.3% in 2022 to 17.6% in 2023. Over the next decade, CMS projects health spending to grow by 5.6% per year on average, which is faster than the expected economic growth rate of 4.3%.
2. By 2032,...

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