A Closer Look at the Latest National Health Expenditure Data
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Jan 17, 2025
Total U.S. health care spending increased by 7.5% to $4.9 trillion in 2023, according to CMS. The growth rate outpaced the 4.6% increase from 2021 to 2022 and the average annual growth rate of the 2010s. As health care spending grew faster than the gross domestic product in 2023, the share of GDP devoted to health care went up to 17.6% in 2023.
On a per capita basis, health care spending went up by 3.1% year-over year in 2023 after adjusting for economywide inflation based on the personal consumption expenditures index, according to an analysis by KFF. Out-of-pocket expenditures also saw an increase, averaging $1,514 per capita, which was mainly driven by growth in out-of-pocket spending for hospital care, physician and clinical services, and nursing care facilities.
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