WASHINGTON (AP) — Government experts say the nation’s problem with rising health care spending is back and here to stay.
Wednesday’s report from nonpartisan experts at Health and Human Services concludes that health care spending will claim a growing share of national resources for the foreseeable future, regardless of what President Donald Trump and Congress do with the Obama-era health law.
Health care will grow at an annual average of 5.6 percent from 2016-2025, outpacing expected economic growth. Now $3.5 trillion, the nation’s health care tab will increase to nearly $5.5 trillion in 2025, accounting for about one-fifth of the economy. That puts a squeeze on other priorities, such as infrastructure improvement.
Accelerating spending is due to fundamentals such as rising prices for treatments and services, as well as an aging population.