Health Care Spending Expected to Soar

May 1, 2002

WASHINGTON-Heath care spending is projected to more than double in the coming decade. The projected figure for 2011 is $2.8 trillion, up from $1.3 trillion in 2000, and the expected average annual growth rate is 7.3%, according to the Centers for Medicare and Medicaid Services.

WASHINGTON—Heath care spending is projected to more than double in the coming decade. The projected figure for 2011 is $2.8 trillion, up from $1.3 trillion in 2000, and the expected average annual growth rate is 7.3%, according to the Centers for Medicare and Medicaid Services.

Health care as a percentage of the gross domestic produce is expected to reach 17% in 2011, compared with 13.2% in 2000. All health care spending is expected to grow at an annual rate of 9.6% in 2001, up from 6.9% in 2000. Private health care spending is projected to increase 8.9% in 2001, peak at 9.4% in 2002, and then gradually decline to 5.9% in 2011.