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US Health Spending Hits $4.8 Trillion, Insurance Coverage Peaks in 2023 Projections

New estimations show a historic increase in health spending last year, which is projected to account for 19.7% of the gross domestic product by 2032.

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CMS: National health spending grew 7.5% in 2023 to $4.8T

Record-high insurance coverage rates alongside other trends like high utilization pushed health spending past the nominal GDP growth rate in 2023.

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National health spending reached $4.8T last year, CMS actuaries estimate

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Hospitals push back on 'woefully inadequate' inpatient pay bump

Major hospital groups aired critiques of CMS' planned changes to inpatient pay, Medicare DSH calculations and medical residency training programs.

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