U.S. healthcare spending growth to slow further: government report

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U.S. healthcare spending growth to slow further: government report

The Centers for Medicare and Medicaid said it expects average annual healthcare spending to grow by 5.7 percent from 2013 to 2023, compared to 5.8 percent in last year's projections, which covered the years 2012 to 2022. The projected growth rate is well below the 7.2 percent annual average between 1990 and 2008, CMS said. The projections coincide with Congressional Budget Office estimates released last week that show another $11 billion reduction in projected spending for Medicare, the federal healthcare program for the elderly, for the 2015-24 period. The CMS study projects both public and private healthcare outlays and showed the overall total will make up a smaller portion of the economy than previously thought in coming years.

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