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Report: Obamacare, Boomers, Recession Slowing Medicare Costs
By Kimberly Leonard
Sept. 3, 2014
The cost of Medicare will grow at a lower rate than initially anticipated – a change government economists attribute to the expansion of insurance coverage through Obamacare, a lower average age of Medicare beneficiaries and economic growth.
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The report found that health care spending increased by 5.6 percent in 2014 and it projects an increase of 6 percent per year from 2015 to 2023. The health share of GDP still is expected to rise to nearly one-fifth of the nation's economy by 2023 because health care spending currently is growing at a rate 1.1 percent faster than economic growth.
That would be a slower rate of growth than from 1990 to 2008, when the average annual growth rate was 7.2 percent and health care spending grew 2 percent faster than GDP.
<snip>
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Report: Obamacare, Boomers, Recession Slowing Medicare Costs
By Kimberly Leonard
Sept. 3, 2014
The cost of Medicare will grow at a lower rate than initially anticipated – a change government economists attribute to the expansion of insurance coverage through Obamacare, a lower average age of Medicare beneficiaries and economic growth.
<snip>
The report found that health care spending increased by 5.6 percent in 2014 and it projects an increase of 6 percent per year from 2015 to 2023. The health share of GDP still is expected to rise to nearly one-fifth of the nation's economy by 2023 because health care spending currently is growing at a rate 1.1 percent faster than economic growth.
That would be a slower rate of growth than from 1990 to 2008, when the average annual growth rate was 7.2 percent and health care spending grew 2 percent faster than GDP.
<snip>
.