The U.S. health spending growth rate is projected to average 5.8 percent from 2014 to 2024, CMS reported in a Health Affairs report.
Here are five notes:
1. Health spending in the United States is expected to reach $5.4 trillion by 2024.
2. Drivers of the spending growth include the Affordable Care Act's coverage expansions, faster economic growth and population aging.
3. The health share of U.S. gross domestic product is projected to rise from 17.4 percent in 2013 to 19.6 percent in 2024.
4. In 2014, national health spending is projected to have increased 5.5 percent. The acceleration was mostly driven by health insurance coverage expansions under the ACA.
5. However, in 2015, the health spending growth rate is expected to decelerate slightly to 5.3 percent, as the effects of the coverage expansions become more moderate and drug spending growth slows down.