Report: Rise in health care spending lowest on record [View all]
Source: USA Today
Health care spending since the 2010 passage of the Affordable Care Act has risen by 1.3% a year, the lowest rate ever recorded, and health care inflation is the lowest it has been in 50 years, a report released Wednesday by the White House shows.
An economy hobbled by the recession and 2008 economic crisis played a role in some of the reduced spending growth, officials said, but the report cited "structural change" caused, in part, by the law.
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Because of cost reductions, the Congressional Budget Office reduced Medicare and Medicaid spending projections in 2020 by $147 billion since 2010, the report noted.
The lower increases in spending as the economy has recovered is a sign the changes are structural, said Jason Furman, the chairman of the Council of Economic Advisers. Prices remain low, he said, and Medicare spending, which he said doesn't typically reflect trends, remains low.
Read more: http://www.usatoday.com/story/news/nation-now/2013/11/20/health-care-spending-growth/3650243/
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