Care spending growth slowed considerably in 2016

RELATED Health Insurance In USA What Should You Know About It

RELATED Health Insurance In USA What Should You Know About It

Dating back to 1960, the NHEA measures annual US expenditures for health care goods and services, public health activities, government administration, the net cost of health insurance, and investment related to health care. "When you add people to the rolls of Medicaid and private health insurance they are going to be using all types of medical goods and services".

The overall slowdown was highlighted by the National Health Expenditure report issued by the federal Centers for Medicare and Medicaid Services' Office of the Actuary.

Still, health care spending grew slightly faster than the overall economy in 2016, increasing health care's share of the economy from 17.7 percent in 2015 to 17.9 percent previous year.

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Medicare, the federally run program that provides health coverage to primarily older Americans, saw spending grow by 3.6 percent in 2016, to $672.1 billion.

The Centers for Medicare and Medicaid Services have released new data from 2016 showing that upward trajectory of USA healthcare spending has slowed. It reached $1.1 trillion in expenses, but due to enrollment rates and continued shift to high-deductible plans, its rate was notably slower than the growth reported in 2015 (6.9%). Changes in the age and gender mix of the population accounted for 0.6 percentage point of the growth in per capita health spending.

US health-care spending hit $3.3 trillion in 2016

Spending for freestanding home health care agencies increased 4% in 2016, to $92.4 billion.

"Over the last decade, the US has experienced unique events that have affected the health care sector, including the most severe economic recession since the Great Depression, major changes to the health care system because of the ACA and historic lows in medical price inflation", said Micah Hartman, a statistician in the Office of the Actuary and lead author of a Health Affairs article on the results.

On a per enrollee basis, Medicaid spending increased 0.9% compared to 4.5% in 2015, which reflects increased efforts by states to control costs, a decline in supplemental payments to hospitals, and a decrease in per enrollee costs for newly eligible adults.

Medicare and Medicaid accounted for a total of 37% of national health expenditures.

In all, payers spent $162.7 billion on care at nursing homes and continuing care retirement communities (CCRCs), an increase of 2.9% from 2015. Its enrollees' hospital care spending remained stable from 2015. Medicaid spending increased 3.9% in 2016, much slower than the rates in 2015 and 2014 (9.5% and 11.5%, respectively), both of which were due to the initial impacts of ACA's expansion of Medicaid eligibility.

Growth in US health spending slowed considerably in 2016, rising by 4.3 percent, after two years of higher spending growth spurred by Obamacare and prescription drugs. The pace of home health spending slowed compared to recent years, though total spending in home health ticked up. The slowing was driven by fewer new drugs being introduced and less spending on pricey treatments for hepatitis C.

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