From Think Progress:
By Igor Volsky– Jul 28, 2011 at 9:01 am
A new report from the Medicare Office of the Actuary estimates that “health spending will grow by an average of 5.8 percent a year through 2020, compared to 5.7 percent without the health overhaul.” As a result, the nation is expected to spend “$4.6 trillion on health care in 2020, nearly double the $2.6 trillion spent last year”:
In 2014, when the major coverage expansions of the health law begin to take effect, national health spending is expected to grow 8.3 percent, according to the new analysis. But spending growth should return to its 6 percent historical average from 2015 to 2020 as some employers drop coverage and the so called “Cadillac tax” on high-cost insurance plans takes effect in 2018. “The effect is likely to be a slowdown in the growth of health services, health insurance premiums and health spending overall,” the study said.
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