- According to CMS,Total health spending this year is projected to grow by 5.3 percent
- Luckily for long-term care providers, Medicare is projected to experience the most rapid annual growth at 7.4 %
Medicaid is projected to grow at a 5.8 percent rate through 2026, slower than previous years, according to Centers for Medicare & Medicaid Services Office of Actuary data released Wednesday.
From 2014 to 2016, Medicaid grew at an 8.3 percent rate due to expansions through the Affordable Care Act. The program is the largest payer of U.S. long-term care services.
Total health spending this year is projected to grow by 5.3 percent, according to CMS and a report published in Health Affairs.
Luckily for long-term care providers, Medicare is projected to experience the most rapid annual growth at 7.4 percent. That’s due to larger numbers of beneficiaries who can enroll, and faster growth in utilization.
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
Spending growth in nursing care and continuing care retirement communities is expected to jump from 3 percent annually in 2013 to 5.3 percent by 2026, hitting around $261 billion in expenditures by 2026. By 2026, federal, state and local governments are projected to finance 47 percent of national health spending, leading CMS executives to note how much government provides payment to providers.
“Today’s report from the independent CMS Office of the Actuary shows that healthcare spending is expected to continue growing more quickly than the rest of the economy,” said CMS Administrator Seema Verma. “This is yet another call to action for CMS to increase market competition and consumer choice within our programs to help control costs and ensure that our programs are available for future generations.”
Date: Feb 15, 2018