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Health Spending Rises at Slowest Rate Since 1960

On Dec. 3, the Centers for Medicare and Medicaid Services announced that health spending rose 3.6 percent from 2012, marking the lowest growth rate since the federal government started tracking healthcare expenditures in 1960...
December 11, 2014

On Dec. 3, the Centers for Medicare and Medicaid Services (CMS) announced that health spending rose 3.6 percent from 2012, marking the lowest growth rate since the federal government started tracking healthcare expenditures in 1960. According to the report, healthcare spending averaged $9,255 per person last year and made up 17.4 percent of the gross domestic product.

It was the fifth straight year of exceptionally small increases in the closely watched indicator. Overall, the report said, medical prices increased just 1.3 percent in 2013, slightly less than prices in the general economy. Prices for doctors' services increased less than one-tenth of 1 percent, the smallest change since 2002, and prices for home health care services declined. Meanwhile, the Robert Wood Johnson Foundation reported that during the 12-month period ending in September 2014, the percentage of non-elderly adults without health insurance declined 30 percent.

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