CMS Reports Health Spending to Reach $6.8 Trillion by 2030
The Centers for Medicare & Medicaid Services Office of the Actuary released a 2021-2030 National Health Expenditure report on Monday regarding health spending and enrollment projections for the coming decade.
According to the report, the annual growth in national health spending is expected to average 5.1% over 2021-2030, and is expected to reach $6.8 trillion by 2030.
The report shows despite increased demand for patient care in 2021, growth in national health spending is estimated to have slowed to 4.2%, from 9.7% in 2020.
The slowed health spending is attributed to declines in supplemental funding for public health activity and other federal programs, specifically those associated with the COVID-19 pandemic.
The report also finds the percentage of the population with health insurance is expected to be 91.1% in 2021 and 2022, due to gains in Medicaid enrollment that are, in large part, due to special rules in effect only during the COVID-19 public health emergency.
When the COVID-19 PHE ends, those enrollments are projected to begin to return to pre-pandemic distributions, with projections putting the insured rate for 2030 at 89.8%.
Alexa can be reached at [email protected]
