Health Care Costs Will Comprise About 20% of US Economy by 2031

The country’s health care spending will grow an average of 5.4% per year between 2022 and 2031, accounting for about $1 out of every $5 spent in the US by the end of the period, according to new projections from the Centers for Medicare & Medicaid Services published in Health Affairs. The agency expects that recent legislative changes, such as the expiration of regulations surrounding the COVID-19 public health emergency and the implementation of the Inflation Reduction Act’s prescription drug provisions, will drive some of the health expenditure trends.